Fraud Awareness and Prevention
Fraud Awareness and Prevention
Fraud is a deceptive practice intended to secure an unfair or unlawful gain. It involves misleading individuals or entities to obtain money, property, or services under false pretences. Fraud can take many forms, including scams, identity theft, and financial misrepresentation, and often exploits trust or vulnerability to achieve its goals. Protecting yourself from fraud is essential for maintaining your personal and financial security.
How to Report Fraud
If you suspect fraudulent activity, please take the following actions:
- Contact Us: Report to LM Exchange at 80056 or email fraudriskmanagement@lm-exchange.com.
- Dubai Police: Call 901 or use the Crime online platform.
- Abu Dhabi Police: Reach out via the “Aman” service hotline at 8002626 or visit adpolice.gov.ae
How Fraudsters Operate
Fraudsters often use various methods to deceive individuals, including:
- Phone Calls, SMS, WhatsApp, Email, and social media: Scammers may claim you’ve won a prize and request personal information or bank details to claim it. They might also ask you to send money to receive your prize.
- Confidentiality Requests: Fraudsters may instruct you to keep prize details confidential, request personal information, or demand payment upfront.
Types of Fraud
Be aware of the following common types of fraud:
- Email Fraud: Fake emails claiming your account is at risk and asking for personal information.
- ATM Fraud: Devices installed on ATMs to capture your PIN or card information.
- SIM Swap: Fraudsters use personal information to obtain a new SIM card and access OTPs.
- Magic Ink: Scammers use prefilled forms to collect your account details and signatures.
- Fund Transfer Fraud: Fake emails tricking businesses into transferring money to fraudulent accounts.
- Phone Fraud: Impersonators posing as bank employees to obtain personal details.
- Data Privacy Breaches: Unauthorized access to sensitive information like Emirates ID and bank details.
- Lottery Scams: Messages claiming you’ve won a prize and asking for personal or financial information.
- Social Engineering: Manipulation tactics to extract confidential information by pretending to be someone you trust.
- Phishing Scams: Fraudulent messages or websites that trick you into providing login credentials or financial details.
- Ransomware: Malicious software that locks your files and demands payment for their release.
- Investment Scams: Offers of high returns on investments that are fraudulent.
- Identity Theft: Criminals using your personal information to commit fraud in your name.
- Online Shopping Scams: Fake online stores that take your money without delivering products.
- Impersonation Fraud: Scammers pretending to be you or someone you know to access your accounts.
Stay Vigilant
Always be on the lookout for signs of fraud and report any suspicious activities immediately. Your awareness and quick action can help protect you and others from fraud
- We will never ask for, PINs, or bank details over the phone, nor require payment to claim a prize.
- Winners are contacted from official numbers, and you can verify by visiting our branches or calling our customer care at 80056.
- Check our website or official social media channels for genuine promotions.
How to Protect Yourself
To safeguard your personal information, remember:
- Official Communication: We will never ask for your PIN or bank details over the phone, nor will we require payment to claim a prize.
- Verification: Winners are contacted from official numbers. Verify by visiting our branches or calling customer care at 80056.
- Stay Informed: Check our website or official social media channels for genuine promotions.
Stay Safe:
Follow these best practices to protect yourself from fraud:
- Never Share Personal Information: Avoid sharing personal details or sending money to unverified sources.
- Verify Credentials: Always verify the identity of anyone contacting you.
- Avoid Suspicious Links: Do not click on links that look suspicious.
- Report Suspicious Activity: If you notice anything unusual, report it immediately.
- Stay vigilant and report any suspicious activities immediately.