What to Do if You Are the Victim of Fraud in the UAE: A Comprehensive Guide

Becoming a victim of fraud can be a distressing and overwhelming experience. It's essential to take immediate and effective steps to address the situation and protect yourself from further harm. Here’s a comprehensive guide on what to do if you find yourself a victim of fraud in the UAE.

Immediate Steps to Take

1. Contact Your Bank Immediately

   - Notify your bank as soon as you realise you have been defrauded. Banks have procedures in place to deal with such situations and can guide you on the immediate steps to take. 

   - Ask the bank for a report on their investigation into the fraud. This report will be crucial in understanding how the fraud occurred and will be necessary for further actions.

2. Secure Your Accounts

   - Change your online banking passwords and ensure your accounts are secure.

   - Lower your transaction limits and disable international transactions if not needed to prevent further unauthorised activities.

3. Gather Evidence

   - Collect all relevant documents and evidence related to the fraud. This includes copies of emails, transaction records, and any communication with the bank. This evidence will be vital when raising a complaint or pursuing legal action.

Raising a Formal Complaint with the Bank

1. Submit a Complaint

   - Raise a formal complaint through the bank’s complaints department. This can usually be done via email. Ensure you include all the evidence you have gathered to show you did not authorise the fraudulent transactions.

   - Clearly state in your complaint that you expect a resolution within 30 days. Mention that if the issue is not resolved satisfactorily within this period, you will escalate the matter to the Central Bank of the UAE.

2. Follow Up

   - Keep track of all communication with the bank. If you do not receive a satisfactory response within 30 days, you are entitled to raise the issue with the Central Bank.

Escalating to the Central Bank

1. Prepare Your Case

   - If the bank fails to resolve the issue, prepare to escalate the matter to the Central Bank. You will need to provide all the documentation and evidence you submitted to the bank, along with their responses.

   - The Central Bank has the authority to investigate complaints against banks and can intervene to ensure your case is handled appropriately.

Involving the Police

1. File a Police Report

   - Raise a police complaint about the fraud. Provide the police with all the evidence you have gathered. If the fraudsters are within the UAE, the police may be able to trace and apprehend them.

   - If the fraudsters are identified and apprehended, you can raise a case against them to try and recover your money. This process can be challenging if the fraudsters are located internationally, but it is still a necessary step.

2. Follow Up with Authorities

   - Stay in touch with the police and follow up on the progress of your case. Be persistent but patient, as investigations can take time.

Legal Action

1. Consult a Lawyer

   - If the bank’s controls are found to be negligent, you may have a case to raise through the courts. Consult with a lawyer who specialises in financial fraud cases to understand your legal options.

   - Your lawyer will guide you on the process and what to expect if you decide to pursue legal action.

Prevention and Precautions

1. Enhance Security Measures

   - After dealing with the immediate situation, take steps to enhance your financial security. Lower your transaction limits, disable international transactions if not needed, and regularly monitor your accounts for any suspicious activity.

See my blog post on this here: 

2. Stay Informed

   - Educate yourself about common fraud tactics and stay informed about how to protect yourself from potential scams. Knowledge is a powerful tool in preventing future fraud.

Support and Resources

1. Seek Emotional Support

   - Being a victim of fraud can be emotionally taxing. Seek support from friends, family, or professional counsellors if needed. It’s important to take care of your mental well-being during this stressful time.

2. Utilise Available Resources

   - Make use of resources provided by your bank, the Central Bank, and local authorities. They often have helplines and support services to assist fraud victims.

Experiencing fraud can be a harrowing ordeal, but by taking prompt and decisive action, you can address the situation effectively. Start by contacting your bank, securing your accounts, and gathering evidence. Raise a formal complaint and, if necessary, escalate the issue to the Central Bank and involve the police. Consult a lawyer for legal advice and take steps to enhance your financial security. Remember, you are not alone—support and resources are available to help you navigate through this challenging time.