Dubai Police bust gang for stealing retiree's life savings in online scam

Dubai Police have arrested a gang involved in an online investment scam that swindled a retired man out of his life savings, Al Khaleej Arabic daily reported.

The victim first approached Dubai Police’s Anti-Cybercrime Department, struggling to hold back tears as he recounted the shock of seeing his lifelong savings vanish. What began as a hopeful plan to invest his end-of-service gratuity turned into a devastating financial nightmare.

After four decades of work, the man had been searching for a safe investment to secure his family’s future. While browsing social media, he came across an investment app promising high returns within a short period. The platform appeared convincing enough for him to test it with a small amount.

Within days, he saw what appeared to be profits multiplying in his virtual account, a deception that gave him false confidence to invest nearly all his savings. But the dream collapsed when the app suddenly stopped working and its operators vanished, cutting off all communication. Only then did he realise he had fallen victim to a sophisticated cyber scam that erased everything he had worked for.

Lieutenant Colonel Ali Al Yamahi, Director of the Anti-Cybercrime Department at the General Department of Criminal Investigation, confirmed that Dubai Police’s specialised teams had arrested the gang members. The suspects lured the victim with promises of fast, high returns before transferring his money to accounts outside the UAE.

Lt. Col. Al Yamahi said the arrests came after meticulous digital tracking of the accounts and coordination with relevant authorities. He noted that the suspects had used advanced digital techniques to deceive their victims, but Dubai Police’s swift action prevented them from escaping justice.

He urged the public to exercise caution and avoid dealing with unlicensed individuals or entities that promote investment schemes or request overseas money transfers. Only licensed institutions, he emphasised, are authorised to offer investment services within the UAE.

Authorities called on residents to report any suspicious activity through the ‘eCrime’ platform, the Dubai Police app, or by calling 901, stressing the importance of verifying the legitimacy of any investment offers before taking financial action.