Elderly man believed ‘black dollars’ could turn real, police reveal

Dubai: An elderly man spent months trapped in an sophisticated fraud scheme, repeatedly handing over money to criminals who convinced him that a safe filled with black coloured banknotes could be transformed into genuine currency using a special chemical.

The victim became so deeply invested in the deception that even after Dubai Police arrested the entire gang, he still asked officers what would happen to the safe containing the so-called "black dollars".

The case was revealed during an episode of a Dubai Police podcast featuring Major Saud Abdulrahman Rafi Al Khazraji, Head of Financial Tracking at Dubai Police's Anti-Fraud Centre, who shared insights into some of the most sophisticated fraud schemes encountered by investigators.

Major Al Khazraji said the incident highlights the powerful psychological manipulation used by fraudsters to exploit trust and pressure victims into making costly mistakes.

The incident is one of many fraud cases now being investigated by Dubai Police as criminals increasingly shift from traditional scams to sophisticated digital and AI-powered schemes.

From face-to-face fraud to digital deception

Over the past decade, fraud has evolved dramatically. Criminals now operate through organised networks using fake websites, social media platforms, artificial intelligence, remote-access applications and impersonation tactics to steal money and personal data.

To combat the growing threat, Dubai Police established a specialised Anti-Fraud Centre that focuses on investment scams, digital fraud, cybercrime and financial tracking.

According to Major Al Khazraji, while technology has changed, the objective remains the same: exploiting victims' trust to gain access to money.

Fake investment schemes promise quick profits

Among the most common scams are fake investment opportunities offering unusually high returns.

Fraudsters often promise profits of 20 per cent or more and initially pay returns using money collected from new victims. The tactic creates a false impression of legitimacy and encourages investors to commit larger sums before the scheme eventually collapses.

Criminals impersonate banks and government agencies

Another widespread tactic involves fraudsters posing as bank employees, police officers or government officials.

Victims receive urgent calls warning of account problems, legal issues or security concerns. Under pressure, they are persuaded to reveal sensitive information such as OTPs, UAE Pass credentials, banking passwords and credit card details.

Dubai Police stressed that no legitimate authority will ever request such information by phone.

Remote-access scams drain accounts

In one case, scammers convinced a victim to install a remote-access application under the pretext of updating banking systems.

Once installed, the criminals gained full control of the device, accessed financial accounts and transferred funds through multiple channels before the victim realised what had happened.

Fake websites and sponsored search links

Fraudsters are also creating convincing copies of official websites, including government portals and major brands.

Many victims unknowingly click on paid advertisements appearing at the top of internet search results, believing they are official websites.

One victim attempting to file a complaint over a Dh500 purchase entered card details on a fake website and later lost Dh80,000 after criminals linked the card to digital wallets.

Dubai Police advise users to carefully check website addresses and avoid relying solely on sponsored search results.

AI-powered deepfake fraud on the rise

Artificial intelligence has opened new opportunities for criminals.

Fraudsters now use deepfake technology to mimic the voices and appearances of company executives, managers and authority figures, instructing employees to make urgent transfers or reveal confidential information.

Warning signs include unnatural blinking, mismatched lip movements, distorted facial features and unusual requests that bypass normal company procedures.

Business email compromise targets companies

Companies are increasingly falling victim to business email compromise (BEC) attacks.

Criminals create email addresses that closely resemble those of suppliers or business partners, sometimes changing only a single character.

Payments intended for legitimate suppliers are then redirected to accounts controlled by fraudsters.

Students recruited into money laundering operations

Young people and job seekers remain main targets.

Fraudsters advertise easy income opportunities requiring little effort and ask recruits to open bank accounts or transfer money on behalf of others.

Many participants believe they are performing simple administrative tasks but unknowingly become intermediaries in money laundering operations, exposing themselves to serious legal consequences.

Seasonal scams exploit demand

Fraudsters often tailor scams to specific times of year.

During Ramadan, fake advertisements promote discounted food products, livestock and household supplies. During holiday periods and favourable weather, criminals sell counterfeit tickets for popular events that are already sold out.

Domestic worker scams are also common, with victims lured by unusually low prices for services that are either unlicensed or non-existent.

Social media trends create new risks

Major Al Khazraji also warned about the misuse of personal data shared online.

Photos and videos uploaded to participate in social media trends or age-filter applications can later be used in deepfake fraud, identity theft, extortion or blackmail after users lose control of the content.

Speed is critical after a fraud incident

Major Al Khazraji said immediate action can make the difference between recovering funds and losing them permanently.

Victims should contact their bank immediately to freeze accounts and cards, then report the incident through the Dubai Police app, the e-Crime platform or by calling 901.

"Your data is your responsibility," he said, stressing that awareness remains the strongest defence against increasingly sophisticated fraud networks operating in the digital age.