The UAE Police have issued a warning against fraudsters’ new methods to steal money from residents’ bank accounts.
According to a statement released by the Abu Dhabi Police on Thursday (September 26), the public should watch out for new ways which fraudsters are using nowadays to steal money from potential victims.
Fraudsters Attempt New Scheme Using Blocked ATM Cards in UAE
According to the police statement, the public should never reveal any sensitive information over the phone or the internet, especially when they get contacted by an unknown sender or from an unknown number.
Furthermore, the police reminded the public that they must never entertain unknown messages regarding prize money or blocked accounts as fraudsters use such messages to extract private information that they can use to transfer money or credit from their victims.
— شرطة أبوظبي (@ADPoliceHQ) September 26, 2019
Residents have also been urged to immediately report incidents of receiving such calls or e-mail to the police.
There are actually a number of ways to report cybercrimes online as per the Abu Dhabi Police:
- Via the eCrime website
- Via the Dubai Police’s website; or
- Through the ‘My Safe Society’ app which had been launched by the UAE’s federal prosecution. (The app is available both on iTunes and Google Play)
There are a number of reasons for which fraudsters and hackers try new methods to victimize others. These attacks may begin with a simple phone call from an unverified number informing individuals that they need to reset their ATM card information to unblock it or an email that promises prizes or offers that are too good to be true in exchange for disclosing card details or passwords
Here are several types of Bank Fraud observed in the UAE:
- Phishing – Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The unverified email will request that you provide sensitive information, often by clicking on to a link leading to a fake website.
- Smishing – This is the SMS equivalent of phishing. Fraudsters will attempt to falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
- SIM swap – Fraudsters duplicate the SIM of your mobile number without your approval or authorization, allowing them to conduct financial transactions at your bank on your stead.
- Vishing – This is the telephone equivalent of smishing and phishing. Fraudsters may call you up and pose as bank staff, police or government officials. They may also convince the consumer to transfer money or divulge personal information.
- Identity Theft – This happens when someone has illegally obtained your confidential information through various means such as theft of your wallet, bank, and utility bill statements, computer intrusion, and social networks.
- Prize Scams – Fraudsters may pose as authorized representatives from well-known organizations which may include, but are not limited to, Etisalat, du, Dubai Shopping Festival, Expo 2020, Lulu Hypermarket etc. Part of their operation is to contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
As banks are trying to make their service as attractive as possible and they’re trying to offer as many services as possible, there are also now more ways for fraudsters to access your information so it’s necessary to be vigilant at all times.