Kippreport gets the scoop from Neelesh Bhatnagar, CEO of Emax, and Nadeem Khanzadah, head of omnichannel retail at Jumbo GroupSeptember 2, 2015 5:24
Fraud in Dubai
The emirate has witnessed high-profile fraud cases worth millions of dollars in the last year.
June 23, 2009 12:54 by Aarti Nagraj
Types of fraud
There are various types of fraud, such as money laundering, intellectual property, asset misappropriation and forgery, among others.
Many of the executives in real estate companies in Dubai have been accused of embezzling money or assets from the company, or for defrauding customers with bounced cheques and false promises of monetary returns.
Meanwhile, some of the common financial crimes include the use of credit cards or debit cards. According to the Dubai police, these happen mainly after credit cards are stolen or lost, bank information is stolen through a credit card and a skimmer (a machine that can read credit card information), and the theft of credit cards by courier delivery boys, who sell them to criminals.
Earlier this year, UAE mobile operator Etisalat warned the public to be wary of fraudsters who were contacting residents from Pakistan-based numbers, and asking them to transfer credit, share their PIN number or provide personal information in return for the chance to win a huge cash prize.
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