Dh42,000 lost in scam: Ministry issues alert on fake trading platforms

Verify authenticity before engaging in any activity and report unsolicited messages

- BY ABDULLA RASHEED Abu Dhabi Editor

The Ministry of Interior has warned of fraudulent trading platforms that lure unsuspecting individuals with promises of easy profit and additional income.

It urging residents to verify the authenticity of trading platforms through the official website of the Securities and Commodities Authority before engaging in any activity.

The ministry highlighted the story of an individual who was defrauded of Dh42,000 after engaging with a bogus trading platform. The victim got enticed by an offer on social media offering a chance to increase his income without leaving his full-time job.

The sender claimed the company offered a secure trading platform that could yield daily profits ranging between Dh100 and Dh325, depending on the time invested.