Mohammed Albalushi, Head of Fraud Risk Management, ADIB
Mohammed Albalushi, Head of Fraud Risk Management, ADIB Image Credit: Supplied

There are different types of fraud; below is a list of the most common ones and steps that can be taken to avoid them:

Phishing: Designed to provoke urgent action, these emails typically concern frozen bank accounts, transaction errors, offers & discounts , shipment deliveries or Prize wins. They will prompt you to click on a link, whereupon they will request you to update your personal account details

SMS Phishing: Text message version of phishing, the SMS may appear genuine as scammers can use text-spoofing software to falsify the phone number or they use social media to get hold of customers details.

Vishing: Also known as ‘voice phishing,’ it involves a phone call where the scammer tries to extract personal information by claiming your account is compromised, threatening disruption of services, or other means. The details scammers aim for is a combination of banking details and passwords such as the One Time Password (OTP).

Identity theft: Typically, by stealing your identity documents, bank or utility bill statements, or hacking into your social network accounts to collect potential victims details

How to deal with fraud in the UAE

1. For lotteries or fund transfers, examine the email address or URL for inconsistencies – are there double letters? Is it a free email service?

2. Be suspicious of unknown mobile numbers. Never answer personal questions about your bank account, security questions, etc.

3. In case of identity theft, please report to local authorities.

4. Always remember: your bank will never ask you for your Password, OTP and PIN.

5. Avoid clicking on promotions online or social media that sound ‘Too good to be true.’

6. Verify the promotion by calling the number published by Restaurant on website.

7. Read the OTP messages received carefully.

8. Avoid providing card details through WhatsApp.

9. Never click on links on emails or SMS or social media without confirming purpose of the email.

10. The incident to be reported to your bank and local authority at earliest.

To learn more about Abu Dhabi Islamic Bank (ADIB), visit here.