Dubai Police Nab Cybercrime Gang Posing as Investment Brokers

Dubai Police have apprehended a cybercrime gang that specialised in online fraud by promoting fake trading and investment schemes through social media platforms. The arrests were made by the Anti-Fraud Centre at the General Department of Criminal Investigation following intensive monitoring and investigation. 

The operation, which the force revealed its details as part of the national awareness campaign #BeAwareofFraud, was launched after receiving several reports from victims who were contacted by the gang via phone calls. The suspects falsely claimed to represent reputable electronic investment and trading platforms, using this cover to gain the trust of their targets. 

The gang convinced victims they could earn high and quick profits, prompting them to transfer funds which were subsequently funnelled into bank accounts outside the UAE.  The identities and locations of the suspects were thoroughly identified, leading to their swift arrest. Legal measures have been taken to refer them to the competent judicial authorities.