Last Updated on: 13th July 2023, 03:29 pm
UAE Announces An Important Warning Regarding Social Media Scams
Abu Dhabi Public Ministry has warned social media users about financial scams in which misleading ads offer quick wins and high returns.
On Twitter, the Abu Dhabi public prosecutor’s office warned against such ads that promise unrealistic profits.
Social media users have been urged to remain vigilant and avoid interacting with unauthorized individuals. Recently, Dubai Digital Risk Protection discovered more than 2,400 fake job advertisements on social media platforms posing as companies from 13 Middle East and Africa (MEA) countries.
These scams lured job seekers and then redirected them to phishing pages where they were asked to enter their login credentials and passwords. The authorities used various techniques such as AI-based logo analysis and text recognition functions to identify the scam.
Penalties For Cryptocurrency And Investment Fraud
Last month, the Ministry of State of the United Arab Emirates (UAE) announced sanctions for collecting funds without a license, including investment fraud, cryptocurrency fraud, and other such cases.
He described Article No. 41 of Federal Law No. 34 of 2021 on Combating Rumors and Computer Crime.
#law #legal_culture #PublicProsecution #SafeSociety #UAE #ppuae pic.twitter.com/jVk4stvhJB
— النيابة العامة (@UAE_PP) April 5, 2023
Under the law, those involved in promoting fake competition, cryptocurrencies, or fake businesses to entice others to invest can be fined between AED 250,000 and AED 1 million, imprisoned for up to five years, or both. The scammer must also return the funds collected.
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