Don't sign up for fake investment schemes on social media: Dubai Police

Residents in Dubai have been warned not to be deceived by fraudulent investment and trading schemes on social media that exploit the "desire for fast profits".

Through its #BewareOfFraud campaign, Dubai Police reported a noticeable rise in scams that promote fake investment schemes to lure victims with promises of "quick and guaranteed profits".

Officers said fraudsters target individuals through advertisements or direct messages online with offers of "exclusive investment opportunities for high returns" and trick them into into transferring money or sharing personal or bank details through fake links.

Dubai Police informed the public that legitimate investment platforms do not guarantee fixed returns or risk free profits, and do not request urgent payments outside official and regulated channels.

The force urged the public to always check the credibility of investment entities on UAE's official channels and reminded them not to share banking information through unverified websites.

Dubai Police added that all such suspicious investment schemes can be reported via the eCrime platform or through official channels.