Dubai Police have arrested a cybercrime gang that operated fake trading and investment schemes through social media platforms.
The Anti-Fraud Centre at the General Department of Criminal Investigation made the arrests following monitoring and investigation work.
Police revealed details of the operation as part of the national awareness campaign #BeAwareofFraud, the Dubai Media Office said in a statement.
Fake trading platform scammers arrested by Dubai Police anti-fraud centre
The investigation began after police received reports from victims who had been contacted by the gang through phone calls.
The suspects claimed to represent electronic investment and trading platforms to gain the trust of their targets.
The gang told victims they could earn profits quickly, convincing them to transfer funds. The money was then moved into bank accounts outside the UAE.
Police identified the identities and locations of the suspects before making the arrests. The suspects have been referred to judicial authorities through legal measures.