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SCAM ALERT: Online Payments Lead to Nowhere
A new wave of scams is targeting unsuspecting victims, who are asked to make online payments for various services, only to find out that the products or services never exist.
The Scam
In a disturbing trend, fraudsters have been posing as customs employees, informing customers that there is an incoming shipment for them. However, instead of delivering the goods, they ask for various customs fees to be paid online. In many cases, more than one individual colludes to deceive the expecting victim.
Types of Fraud
The UAE Financial Intelligence Unit (UAE FIU) has identified several types of fraud, including:
- Fake Visa/Ticketing Fraud: Perpetrators pose as legal travel agents and ask for payment online before issuing a visa or ticket. After the transfer is made, they stop communicating with the victim.
- Investment Scam/Fraud: The scam involves offering fictitious investments that promise high returns with little or no risk. The investment forms can take various shapes, such as company shares, real estate, and stocks.
- Phishing/Vishing: Fraudsters obtain sensitive information or credentials online (phishing) or by phone (vishing). They create fake websites or use social engineering techniques to convince victims to reveal their personal or sensitive information.
Forgery/Counterfeit
Criminals engage in illegal activities such as signature forgery, cheque forgery, and counterfeiting identity documents, cheques, and currencies.
Red Flags
The UAE FIU has established generic risk indicators that may suggest fraud is committed. Some red flags include:
- A customer submitting documents with false or fraudulent information
- Discrepancies between reported facts and supporting documentation
- Altered or inadequate supporting documentation
- Frequent incoming funds transfers from unrelated parties
Case Example
In one case example, the UAE FIU received two STRs (Suspicious Transaction Reports) concerning two individuals who were asked to make advance payments for a shipment that never arrived.
Be Vigilant
To avoid falling prey to these scams, it is essential to be cautious when making online payments. Be wary of requests for customs fees or payments for services that seem too good to be true. Verify the authenticity of websites and travel agents before providing sensitive information. Report any suspicious transactions to the authorities immediately.
Conclusion
Remember, if it seems like a scam, it probably is. Protect yourself from financial losses by being aware of these red flags and taking necessary precautions.