Salik to stock investors - 'Do not be scammed by social media offers'
Social media has seen a burst of offers promising investors high returns on Salik
Salik, Dubai's exclusive toll gate operator, is warning the public and investors of an active social media scam campaign that falsely claims to offer high returns for investing in Salik.
The current online campaign targets individuals - as well as businesses – by attempting to ‘convince them to invest in Salik through a fraudulent link that has no connection to Salik.
Salik said it maintains no such association whatsoever with any of these campaigns.”All the claims disseminated by such campaigns are false and misleading,” Salik added, for good measure.
“Salik advises the public to exercise the highest level of caution and vigilance, and urging everyone to rely solely on the official sources of information provided by Salik, accessible through its platforms and communication channels.”
Salik regularly updates announcements on the Dubai Financial Market, where it is listed. Plus, there are the own communication channels through Facebook (www.facebook.com/salikuae), Twitter (twitter.com/salik_ae), Instagram (www.instagram.com/salik.ae), YouTube (www.youtube.com/channel/UCzUB3Jxb0yyC7-vj2FuM0xw), and LinkedIn.
Salik's stock is trading at Dh2.99 (IPO price was Dh2), and has been a consistent volume driver on the DFM.
Some of the biggest companies in the UAE have been part of online campaigns where the only intention is to dupe a gullible user. Mails supposedly issued by Emirates Post have been landing in inboxes, informing users that they need to follow the link, pay a certain amount, and get their parcel delivered.
The other regular one showing up as a message is a warning about an imminent end to the user's Netflix subscription - if the month's dues are not paid.
The Salik-related promise of a bonanza awaiting investors is relatively new. "There are always the digital campaigns that pile on misinformation about a listed company," said a market analyst. "But promising investors significant returns from investing in a particular company is relatively rare in the UAE.
"With the rise of the IPO culture in the UAE and with more retail investors entering the market for the first time, a get-rich scheme was bound to happen."
Investors take note
All that investors coming across these message should do is give a cursory glance - and press 'delete'. There is always easily available info on listed companies from official sources. If at all you want to make an investment, do so through the official channels and take out a NIN (National Investor Number).
Do it right - all the time. And save yourself a lot of trouble.
"The basic protection against this is training on how users should be cautious when opening emails that require some urgent action or ask for personal/financial information. From a organization standpoint, just adding a simple message at the top of the email saying 'External Message' will serve as a caution for users when they open the email.
- Vibin Shaju, VP for Solutions Engineering EMEA at Trellix.