Financial fraud demands swift action, experts warn
As part of Cybersecurity Awareness Month, the UAE Cybersecurity Council has launched a national competition titled “Nebras”, aimed at encouraging children and youth to create visual awareness messages that promote digital literacy and create awareness about cyber threats. The competition's six winners will share prizes worth Dh30,000.
The council has also urged the public to act immediately when facing financial fraud attempts, emphasising that prompt action significantly increases the likelihood of recovering lost funds.
The council explained that if money has been transferred to a scammer, the victim must immediately report the incident to the relevant authorities and contact the company, bank, or payment platform used to make the transfer to request cancellation or reversal of the transaction. “The faster a person reacts, the higher their chances of getting their money back,” the council said.
It added that if the payment was made through a credit card, digital wallet, or bank transfer, the card issuer or relevant financial institution should be informed immediately to request transaction cancellation and recovery. In cases where gift cards or cryptocurrencies were used, the victim should promptly contact the issuing company or platform to report the fraudulent activity. For cash or money transfer payments, the affected person should contact the transfer or delivery service immediately to try to stop the transaction before it is completed.
The Council warned that bank accounts are the prime targets for hackers and scammers, stressing that securing digital banking systems is essential to safeguard personal wealth and protect the national economy.
It explained that risks include credential theft leading to unauthorized transactions, significant financial losses, and potential legal consequences for individuals and companies. To mitigate these threats, users are advised to use banking applications with multi-factor authentication (MFA), enable real-time transaction alerts, and avoid accessing accounts from public devices.
“Secure online banking is crucial for protecting money and sensitive data,” the council said, adding that as the UAE continues to strengthen its position as a global financial hub, ensuring the security of its digital banking systems remains a top priority. “Safe online practices not only protect personal wealth but also reinforce national economic stability.”
The competition Nebras targets participants up to 16 years old, and is divided into two categories: children up to 12 years old, and youth between 12 and 16. Entrants are invited to submit short video clips of up to 45 seconds (maximum 30 MB), which may include the use of artificial intelligence tools or be silent videos, provided they align with UAE values, customs, and traditions.
Six winners will share total prizes worth Dh30,000 — Dh7,000 each for two first-place winners, Dh5,000 each for two second-place winners, and Dh3,000 each for two third-place winners. Winners will be required to present their Emirates ID to receive the prizes.
In its latest public advisory, the Cybersecurity Council warned that cyber threats today go beyond malware and technical vulnerabilities, evolving into a more sophisticated form that directly targets human behavior. Cybercriminals now rely heavily on “social engineering” — manipulating emotions, trust, and decision-making — to infiltrate individuals and organisations.
According to the Council, nearly 98 per cent of cyberattacks involve social engineering tactics that exploit victims’ emotions and impulsive decisions rather than attacking systems directly. “Modern hackers are not just coders behind screens,” the council noted. “Many are skilled manipulators who master the art of persuasion and emotional control.”
The warning explained that fraudsters often impersonate various personas — from government officials to close friends — convincingly mimicking the communication style of trusted institutions. They exploit trust or confusion to trick victims into revealing sensitive information, using strategies such as offering fake rewards, promising prizes, or posing as credible authorities.
Other common tactics include applying pressure through fake threats, urgent warnings, or sending conflicting information to create confusion and panic, leading victims to act hastily.
Unlike traditional cyberattacks that rely on complex code, social engineering targets the human factor, the weakest link in any security system. Under emotional pressure or urgency, victims may voluntarily share their banking details or passwords, unaware they are being deceived.
To counter this, the Council continues its national awareness campaign through the “Cyber Pulse” initiative, with its sixth week focused on highlighting the dangers of social engineering. The campaign provides practical guidance such as verifying the identity of contacts before sharing information, avoiding unexpected or urgent requests, refraining from sharing personal data over phone or social media, and following official advisories from competent authorities.
The council also warned that scammers often send friendly, empathetic, or even emotional messages to elicit a quick response from victims. It stressed the importance of continuous digital literacy and public vigilance against any unfamiliar or suspicious requests for sensitive information.
“In today’s world, hacking is no longer about complex code — it’s about awareness and behaviour,” the council concluded. “With 98 per cent of cyberattacks relying on social engineering, the real battle begins with individual awareness before any firewall or security system.”
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