Hi Everyone! I hope you are all doing well. Welcome back to another blog. In this article, we will talk on the topic in detail “UAE Authorities Alert Citizens to Beware of Social Media Scams”.
Social media platforms have become a central part of our daily lives, with millions of people using them to connect with others, share information, and conduct business. However, with this increased use of social media, there has been a rise in online scams and frauds. In the UAE, authorities have issued warnings to citizens to be aware of these scams and take appropriate measures to protect themselves. In this article, we will explore the different types of social media scams, how to spot them, and what you can do to stay safe.
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The Abu Dhabi Public Prosecution has issued a warning to social media users regarding financial fraud. Misleading ads that offer unrealistic profits are being circulated on these platforms. People are being cautioned to avoid interacting with unauthorized parties and to stay vigilant.
"نيابة أبوظبي" تحذر من الاحتيال الإلكتروني للاستيلاء على الأموال عبر الترويج لأرباح خيالية على أثر انتشار إعلان في وسائل التواصل الاجتماعي pic.twitter.com/2lW3RpHUAp
— نيابة أبوظبي (@AbuDhabipp) April 28, 2023
Dubai’s Digital Risk Protection recently discovered over 2,400 fake job ads on social media platforms. These scams impersonated companies from 13 countries in the Middle East and Africa (MEA). They enticed job seekers and then redirected them to phishing pages where their login credentials and passwords were requested.
To identify these scams, authorities used various techniques such as AI-powered logo analysis and text recognition features. These measures helped in identifying and eliminating these fraudulent activities. Therefore, it is essential to be careful and cautious when using social media platforms to avoid falling prey to such scams.
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Consequences of Cryptocurrency and Investment Scams
The UAE Public Prosecution recently released a statement detailing the penalties for unlawful money collection, including investment scams involving cryptocurrency and other fraudulent schemes.
— النيابة العامة (@UAE_PP) April 5, 2023
According to Article No. 41 of the Federal Decree-Law No. 34 of 2021, individuals found promoting fake competitions, cryptocurrency, or fraudulent companies to deceive investors may face severe consequences.
These may include fines ranging from AED 250,000 to 1 million, imprisonment for up to five years, or both. The perpetrator must also repay any funds they collected through their deception.
To put it simply, the UAE has implemented strict laws to combat fraudulent practices related to cryptocurrency and other investment scams. Those who engage in such activities risk facing severe legal repercussions.
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