The cybercrime gang arrested in Dubai. DUBAI POLICE

Dubai Police have arrested a cybercrime gang that used fake trading and investment schemes to defraud victims via social media, officials confirmed. The arrests were made by the Anti-Fraud Centre at the General Department of Criminal Investigation following intensive monitoring and investigations. The gang posed as representatives of reputable trading platforms and contacted victims by phone, convincing them to invest with promises of high and quick profits. "The suspects were impersonating electronic investment brokers to deceive people and collect funds, which were then transferred to bank accounts outside the UAE," Dubai Police said. The operation was carried out as part of the nationwide awareness campaign, #BeAwareofFraud, which aims to protect residents from financial scams. Authorities were able to identify the suspects’ identities and locations, leading to their swift arrest. Legal action has been taken, and the suspects have been referred to the competent judicial authorities. Dubai Police reminded residents to only engage with licensed investment firms and avoid transferring money to unverified entities. “Verify the legitimacy of any investment opportunity before committing financially,” the police urged. The public is encouraged to report suspicious activities through the eCrime platform, Dubai Police app, or by calling 901. ICA/Expat Media
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