Picture for illustrative purposes only. EXPAT MEDIA

UAE residents warned of new online wire fraud

The Abu Dhabi Public Prosecutor's Office has informed residents of the new illegal scheme which is wire fraud. The warning comes in the wake of instances of fraudulent activity on social media and other computerized platforms, where people are duped into schemes by promises of quick gains, alluring returns, and substantial prizes that are false. The Public Prosecution (PP) has warned Internet and social media users to exercise caution and avoid doing business with unauthorized or dishonest individuals who use deceptive advertising and marketing strategies to convince their victims to send money for fictitious financial gains. Before engaging in any financial activity, companies must make sure they have the required licenses from the appropriate authorities, the agency noted. The PP has also emphasized that wire fraud is a criminal offense, and anyone found guilty of illegally appropriating movable property, benefits, documents, or signatures using dubious methods, a false name, or by assuming an incorrect capacity using the information network, electronic information system, or any computer means will be subject to a minimum one-year prison sentence and a fine of at least Dh250,000 and a maximum of Dh1,000,000, or both of these sentences. To assist fight wire fraud and shield the community from financial losses, members of the community are recommended to exercise vigilance and report any suspicious activity to the appropriate authorities in light of this warning. KD/Expat Media
For all the latest news from the UAE and the world, follow us on Facebook, Twitter and Instagram and subscribe to our YouTube page