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Online fraud activities on the rise, stay alert: UAE central bank

Khaleej Times logo Khaleej Times 21/07/2020 Staff Report
a close up of a logo: Online fraud activities on the rise, stay alert: UAE central bank © Provided by Khaleej Times Online fraud activities on the rise, stay alert: UAE central bank

The UAE Central Bank on Tuesday warned residents about the increase in fraudulent activities, and urged them not to disclose their personal information, such as bank account details, to any person or entity.

Moreover, the regulator as well as banks operating in the UAE confirmed that they do not request personal information from consumers, and warned them of malicious phone calls and fraudulent messages that they may receive via WhatsApp using the central bank's name and logo.

In addition, central bank on Tuesday reminded consumers not to answer such calls and messages, or open any links from unverified sources to prevent exposure of private and sensitive information to malicious websites, urging them to report such fraud calls and messages to the relevant authorities at once.

In April 2020, UAE Banks Federation, the Central Bank, Abu Dhabi Police and Dubai Police announced the launch of UAE's first national fraud awareness campaign. The joint initiative aims to educate and protect consumers from financial cybercrime and fraud, particularly in light of the increased use of digital banking services during Covid-19 pandemic.

waheedabbas@khaleejtimes.com

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