Sharjah: Sharjah Police have urged all community members to exercise caution if they come across investment schemes which offer returns far above the normal. It could be a fraud.
Scammers are offering convincing and seemingly legitimate reasons to give investors false hope about offers of money, police said.
Some of the scams are sending out claims such as how to ‘be a millionaire in a short time’, or ‘get-rich quick’.
The advisory was issued by Major-General Saif Ziri Al Shamsi, Commander-in-Chief of Sharjah Police, during a telephone call on the Direct Line programme, broadcast live by Sharjah Radio.
Maj-Gen Al Shamsi said: “People who pay to these companies should pay attention to the possibility of falling into debt and loans, especially the young [with low incomes] who get tricked in this manner, which in turn negatively affect their social and family life.”
Police have noticed a number of companies posting advertisements making attractive offers to people who invest vast sums of money.
In one example, a company suggested that if a person invested Dh37,000, he/she would receive a return of Dh74,000 in only 15 months.
Police have also advised residents to contact them if they receive any information about such scams.