UAE firm alerts residents: Scammers exploit identity for credit card details

Abu Dhabi-based company The National Investor (TNI) has issued a warning regarding scammers misusing its name, logo, and employee names to perpetrate fraudulent activities.

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An Abu Dhabi-based company, The National Investor (TNI), has issued a cautionary alert about scammers exploiting its identity to obtain personal and financial information from UAE residents and investors. The warning, posted on the Abu Dhabi Securities Exchange, revealed that scammers are using TNI's name, logo, and employee names to promote fake investment opportunities and tenders online.

These fraudsters request individuals and entities to provide personal, business, and financial details, including credit card and/or bank account information, under the guise of paying tender fees or investing in the company.

TNI clarified in its statement that it never requests personal or financial information via email or any other means. The company urged caution among recipients and advised against sharing sensitive information. The cautionary note comes as instances of scams targeting UAE residents, resulting in substantial financial losses, have become more prevalent. Notably, victims have fallen prey to various scams, including online shopping and phone scams, despite repeated warnings from authorities.

In response to the escalating threat, Abu Dhabi's judicial authority previously issued an advisory specifically addressing online shopping scams, urging residents to exercise vigilance. TNI's recent alert serves as a proactive measure to protect individuals from falling victim to fraudulent schemes that exploit the company's identity.

TNI emphasized its commitment to not sending tender requests or communications requesting personal, business, or financial information through email, mail, or any other means. The company cautioned recipients to treat such requests claiming to be from TNI with skepticism and avoid providing any personal or sensitive information.

The company clarified that emails soliciting information do not originate from TNI or its affiliates. Individuals who receive such emails are advised not to click on any links within the emails or disclose personal information, such as bank details or identity documents. TNI acknowledged the prevalence of illegal advance fee scams that misuse its name, along with those of its Board of Directors and senior management, and urged the public to remain vigilant against such fraudulent activities.

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