Scam Alert – Beware of Banking Scams in UAE
UAE is one of the safest countries in the world for its residents. The crime rate is very low and the police are extremely proactive in resolving any untoward incidents.
In fact, UAE has been consistently ranked among the safest countries in the world.
In this background, it is quite surprising to observe that a few scamsters are on the prowl. These incidents have happened in 2019.
1 – Renewing your Emirates ID
Context
If you are an expatriate, your Emirates ID is typically valid for 2 years. After this, it needs to be renewed. Banks naturally want your latest information in their records.
Incident
One of my colleagues got a call from a mobile number. The person claimed to be from Emirates ID authority of Emirates NBD Bank. He informed my colleague that her Emirates ID needs to be renewed and he required some details to do it over the phone.
He knew the name and first 8 digits on my colleague’s debit card and wanted to know the remaining digits, CVV and expiry date. Further, he wanted to know the one-time-password (OTP) she received on her phone.
Suspicious behavior
There are several here
- It is unlikely any bank or government representative will call you from their mobile phones
- Remember, even tourists can obtain mobile numbers from the airport duty free. For all you know, the scammer is calling you from the airport and will take the next available flight.
- Your redacted credit card number does not establish the credentials of the caller. In fact, it is easily available in credit card statements or receipts which we often throw in the dustbin. Here is a sample
As you can see, it shows the name and first 6 digits of my credit card. Once again, THIS DOES NOT PROVE THE CALLER IS GENUINE.
2 – Lottery Wins
Context
Many establishments in Dubai offer sweepstakes and lotteries. It can range from shopping at duty free to transferring money through an exchange house.
First Incident
You receive a call stating that you have won a lottery. On being told that you never submitted a lottery ticket, you are informed that it was a random selection. The caller needs your name, bank account details and some other information.
Suspicious Behavior
- To the best of my knowledge, there are no random selections in such lotteries. In nearly all the cases you have to enroll for the lottery by putting your details and submitting. This is just a variant of the infamous Nigerian Prince Scam.
- If the calling party does not know your name, it is a major red flag.
Second Incident
My wife received this message on her WhatsApp
“Hello dear valued customer of Du my name is Ibrahim Abdullah from Du head office you know you are using the sim card of Du . Du company have decided to make lucky draw last month,and in this lucky draw you have won the prize money of 200,000 dirham Its a very warm congartulations to you and your all family first of all i will give you the confirmation code of your prize money ******** this number is printed on the back side of your sim card check this number on the back side of your sim card if this number confirmed then you have to call this number 0588397918 and claim your prize money Reggards. Du Expo 2020”
Suspicious Behavior
This is a classic scam and fulfills all the criteria
- Poorly worded letter – Check
- Not addressed by name – Check
- Promising a reward you never participated in – Check
- Asking you to call a mobile phone – Check
3 – Suspicious Links and Apps
Context
There are unlimited possibilities here. It is quite easy to make a genuine looking website, change a few alphabets to the website address and send an email to you asking you to key in your bank details.
Incident
I am quoting this from a Reddit page. Someone received an email like this. Given the confusion around VAT implementation, this is one of the most sophisticated scams I have seen
Dear Customer,
After the last audition/calculations of your fiscal activity, we have determined that you are eligible to receive a VAT refund of AED 15,030.50
To access your VAT refund, please follow the steps bellow:
* Download the VAT Refund Form attached to this e-mail
* Open the form and follow the instructions on your screen
A refund can be delayed for a variety of reasons. For example, submitting invalid records or applying after the deadline.
Revenue and VAT Administrator
Best regards,
Emirates NBD
The aforementioned form looked like this
Suspicious Behavior
I am sure anyone would want a tax refund. However, take a step back. If your Bank has e-mailed you, they know who you are. Why would they need your user id, email address, passwords and credit card details?
Bottomline
This situation is not unique to UAE. Unfortunately, with increasing digitization and proliferation of mobile phones, such scams are common everywhere. I have also received fake calls from people pretending to be from IRS, SEC, Reserve Bank of India (RBI) etc.
Also note that the tone of the caller does not matter here. It can range from being extremely friendly to downright intimidating. The caller may or may not sound desperate. The logical thing for you to do is understand what the caller wants and is offering. Then ask him to call in 30 minutes. Recollect your thoughts and think if the information you will provide can be used to scam you. If you are not sure, consult a friend or colleague.
Have you ever received calls or e-mails like these? What did you do?
