Why you must not buy gold online, especially if it's discounted

Abu Dhabi Police, in collaboration with cybersecurity experts, has issued a strong warning against purchasing gold bars through online platforms and social media, highlighting a surge in fraudulent advertisements operated by international scam networks outside the UAE. These networks, officials said, entice victims with promises of buying gold and silver at attractive prices in exchange for advance payments, only to disappear once the funds have been transferred.

Authorities stressed the importance of dealing exclusively with licensed and accredited gold sellers, and urged anyone who suspects a fraudulent website or online activity to report it immediately to the Ministry of Interior and the UAE Public Prosecution.

Abu Dhabi Police cautioned that “fraudsters invent new tactics every day to trap their victims. You might receive a call urging an urgent money transfer, a fake banking message with a dangerous link, or a deceptive ad promoting fake investments with unrealistic profits — or even a false gold sale or discounted luxury chalet booking — only to realise you’ve lost your money.”

Stern warning from Abu Dhabi Police

 Lieutenant Colonel Ali Faris Al Nuaimi, Head of the Cybercrime Department at Abu Dhabi Police, said in a media statement that fraudulent methods are becoming increasingly sophisticated, often exploiting trending global or local topics to deceive the public.

“One of the latest tactics,” he explained, “involves leveraging the global surge in gold prices through fake ads on social media to attract buyers with tempting offers, or selling counterfeit gold under the guise of legitimate deals.”

He emphasised the need for heightened vigilance in financial transactions, advising residents to purchase only from verified, licensed platforms within the UAE and to avoid transferring money or engaging with unknown online sources.

Al Nuaimi also warned against believing misleading online advertisements offering goods or services at unrealistically low prices, stressing that such schemes aim to steal money and personal data.

He added that Abu Dhabi Police continuously develops innovative initiatives to enhance digital security, through the Cybercrime Intelligence Center, which monitors and analyses emerging online threats and implements proactive measures to counter them.

He highlighted the importance of public cooperation, noting that swift reporting plays a crucial role in recovering funds and enabling timely intervention.

Immediate reporting channels

Abu Dhabi Police urged the public to report any online fraud attempts via the Aman service, available 24/7 through the hotline 8002626, SMS to 2828, or email at aman@adpolice.gov.ae.

The police reaffirmed that public awareness remains the first line of defence against cybercrime.

Fake AI trading bots and digital gold scams

Cybersecurity specialists warned of emerging online fraud tactics, including the use of AI-powered trading bots, digital gold, and gold-backed tokens — digital currencies falsely marketed as being supported by real gold. These scams also include so-called electronic gold wallets, which claim to store digital grams of gold but, in most cases, merely display fabricated balances without any real assets.

Experts cautioned that online fraud now extends beyond gold to include silver, copper, and other commodities and services. Fraudsters lure victims through fake social media pages that advertise gold bars or other items at “discounted international prices,” deceiving buyers into paying deposits for goods that never arrive.

Buying gold online

Security experts reiterated that those interested in purchasing gold should avoid online purchases entirely, and only buy directly from licensed dealers in person. They warned that the illusion of quick wealth remains one of the most enduring traps, as fraudsters continually reinvent their schemes using advanced digital platforms that appear professional and legitimate.

They noted that such scams are not limited to gold, but also target investors in stocks, forex, and cryptocurrencies — taking advantage of trending discussions about gold on social media to push their fraudulent ads more effectively.

Scam networks on Telegram and TikTok

Experts observed an increase in fraudulent activity through Telegram groups and TikTok live streams, which attract potential victims through paid and targeted ads. Some scammers even infiltrate legitimate investment conferences in the UAE to collect participant data and contact them directly.

To reduce exposure to such scams, experts advised users to reset their social media algorithms by deleting old interests, especially those related to trading or investments, and to report any suspicious ads or livestreams to prevent them from reappearing.

Financial market experts also urged investors to exercise caution when registering on trading platforms, to limit investments to UAE-regulated markets, and to never share banking details online, as scammers can repeatedly withdraw funds once they gain access.

Deceptive websites and digital media fraud

Financial experts warned against purchasing gold online, recommending instead buying from trusted local markets. They also advised reporting any misleading digital content that promises unrealistic profits from gold investments.

Digital media and AI specialists explained that one common scam involves fake trading platforms that perfectly mimic legitimate ones. Once a victim deposits money, the platform vanishes or blocks access. To identify authentic platforms, they advised checking for official licenses — if a “license number” lacks a verifiable link, or the website ends with domains such as .live or .trade instead of .com, it’s a major red flag.

Experts also warned of fake digital gold wallets — apps that claim to buy and store gold but only show imaginary balances.

They urged the public to avoid any step that might facilitate fraud, to disregard promises of “guaranteed” or “instant” profits, to research company names online using keywords like “scam,” and to test new platforms with only small amounts of money.

Abu Dhabi Police concluded by warning that scammers continue to exploit rising global gold prices and heightened consumer interest, deceiving buyers with fake offers, counterfeit gold, and unrealistically attractive prices