Dubai Police warn of rising investment scams

Shutterstock [For illustration]

Dubai Police are warning the public to steer clear of companies and online platforms promoting misleading investment schemes that promise guaranteed monthly returns of up to 10 per cent with no risk.

The Anti-Fraud Centre says such offers show clear signs of scams designed to lure victims and steal their money.

Some of these companies promote themselves on social media using paid ads, even copying the names and logos of well-known financial institutions to appear credible, despite having no valid licences from regulators.

Many operate pyramid-style schemes, using funds from new investors to pay earlier ones before disappearing altogether.

Dubai Police also stressed that monthly returns of 10 per cent or more are unrealistic in a regulated investment environment. High returns always come with high risk, making such claims a major red flag.

The public is urged to stay vigilant, verify company licences through official channels before investing and report suspicious ads or activities via the eCrime platform or by calling 901.

More from Local

Coming Up on Dubai Eye

  • The Score

    7:00pm - 9:00pm

    Hosted by Chris McHardy, The Score is your comprehensive guide to the world of sport.

  • The Music Mix

    9:00pm - 11:00pm

    Enjoy your favourite music back to back commercial free, tune in to the Music Mix everyday from 1 until 2 for the music you love and the news updates you need

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Is There Sufficient House Supply In UAE

    Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?

  • Noon's First Female Delivery Driver

    Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!