news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

No Result
View All Result
news4global
No Result
View All Result
Home Business

UAE Empowers Crypto Investors In Fight Against Scammers – Fin Tech

July 13, 2022
Reading Time: 3 mins read
0
Cryptocurrency: The Regulator’s Perspective (Podcast) – Fin Tech
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

FM Urges IMF To Develop Globally Coordinated Approach To Crypto Asset Regulations – ABP Live

February 9, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Crypto ATM Operator Cash Cloud Files for Bankruptcy – PYMNTS.com

February 9, 2023

More than ever, crypto-investors in UAE need awareness and
defense against scams. Michael Kortbawi speaks to Gulf News on how
to avoid crypto-scams.

It has become clear that the UAE has recognised the tremendous
potential of cryptocurrency and blockchain technologies, and is set
to be a hyper-connected city as well as an ever-evolving business
hub. One of the outcomes of Dubai’s will to become a global
centre for crypto assets is the establishment of the largest crypto
exchange platforms.

For instance, Binance, the world’s leading cryptocurrency
trading platform, was granted a licence to operate in Dubai, and in
April 2022, Bybit and crypto.com announced their establishment
here. Moreover, Dubai has enacted a new law aimed at establishing
the emirate as an international centre for crypto assets and
related industries, such as the metaverse, and creating the Dubai
Virtual Assets Regulatory Authority to oversee the regulation,
governance, and licensing of virtual assets.

Unfortunately, the downside of the exponential growth of crypto
industry is the increase of crypto scams in the UAE. According to
the Head of the Digital Assets Crime Section at the Dubai Police,
in the first half of 2021, there were hundreds of crypto scams in
Dubai with Dh80 million lost in total.

Crypto scams occur using diverse means, as outlined below:

Transfer recall scam: The scammer buys
cryptocurrencies and sends funds to the seller and they receive the
tokens. However, he then files a fraudulent complaint with their
bank to recall the transferred funds.

Peer-to-peer transactions using illegally gained
money:
A person offers to purchase tokens at a fair price,
which is in fact from criminal proceedings. The victim indirectly
becomes a partner in the crime.

Rubber cheque: The scammer offers to buy
cryptocurrency at a decent price using a rubber cheque.

Third-party scam: The scammer, posing as a
broker, finds a seller and a buyer, convinces them to meet in
person for the transaction and asks the buyer to bring cash. He
then gives the buyer’s money to the seller and asks the seller
to send the cryptocurrency to a trading account, which is his own
account instead of the buyer’s account.

Copycat administrator: Occurs in Telegram
groups, often after a member of the group requests advice. The
scammer messages the user, posing as an administrator, offers help
which involves asking for the target’s private keys or
requesting that they login into a fake platform meant to steal the
member’s account details and have access to their wallet.

Pump-and-dump crypto group: The scammer
attempts to coordinate price manipulation on a cryptocurrency
exchange. Tokens are then pumped by the scammer (the founder or an
insider), who then sells his tokens on a short-lived exponential
rise in price on crypto-exchanges, which then crashes.

Giveaway scam: The victim is tricked by being
offered free cryptocurrency or NFTs in exchange for his
wallets’ public addresses and private keys. The giveaway
advertisement can be from legitimate pages.

Counterfeit NFTs: The scammer hacks an NFT,
recreates it and sells it on legitimate platforms.

In most of these scams, the scammer enters into agreements with
the victim without making it formal. Therefore, it becomes harder
for the victim to proceed with legal action against the
scammer.

How to avoid such scams

First and foremost, it is fundamental that no personal information
is shared and that anonymous calls, messages and ads are
ignored.

The Digital Assets Crime Section of Dubai Police was created
last year as a proactive approach in response to the increase of
cybercrimes happening around crypto matters. The head of section
stated: “There is no harm in asking companies and people to
provide them with a copy of trade license because it’s public
information and not confidential. Also make sure the license is not
photoshopped.”

Then, it is essential to conduct all transactions using exchange
platforms that are regulated by the UAE financial regulator by
checking for example with Dubai Financial Service Regulatory
Authority (DFSA) or the Abu Dhabi Global Market (ADGM) for their
licence and regulatory permission.

The UAE Security and Commodities Authority (SCA) has a list of
alerts for falsely claiming to be regulated by it. As for DIFC, the
DFSA has sent alerts about fraudulent crypto-assets.

Written by Michael Kortbawi and Felicien Penetrat.

The original article can be read here: UAE empowers crypto investors to fights against
scamsters.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

Tags: Fin TechmondaqTechnologyUAE Empowers Crypto Investors In Fight Against Scammers
Share76Tweet47

Related Posts

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

FM Urges IMF To Develop Globally Coordinated Approach To Crypto Asset Regulations – ABP Live

by admin
February 9, 2023
0

FM Urges IMF To Develop Globally Coordinated Approach To Crypto Asset Regulations  ABP Live

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Crypto ATM Operator Cash Cloud Files for Bankruptcy – PYMNTS.com

by admin
February 9, 2023
0

Crypto ATM Operator Cash Cloud Files for Bankruptcy  PYMNTS.com

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Dubai’s Crypto Regulator Announces Increase In Resources To Handle New Applications – ABP Live

by admin
February 8, 2023
0

Dubai’s Crypto Regulator Announces Increase In Resources To Handle New Applications  ABP Live

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Microsoft Launches New Bing Likely Powered by OpenAI’s GPT-4 A.I – The New York Times

by admin
February 7, 2023
0

Microsoft Launches New Bing Likely Powered by OpenAI’s GPT-4 A.I  The New York Times

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Hut 8 and US Bitcoin announce merger of equals to create a … – PR Newswire

by admin
February 7, 2023
0

Hut 8 and US Bitcoin announce merger of equals to create a ...  PR Newswire

Load More
  • Trending
  • Comments
  • Latest

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Polygon Recruits Top Aave Lawyer Rettig for Crypto Policy Role – Bloomberg Law

February 9, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

OKX Takes Centre Stage as Naming Rights Sponsor of the … – GlobeNewswire

February 9, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

FM Urges IMF To Develop Globally Coordinated Approach To Crypto Asset Regulations – ABP Live

February 9, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Blockchain developers have taken a decentralized interest in cloud storage – will it shake up the industry? – Forkast News

February 9, 2023

Latest News

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Polygon Recruits Top Aave Lawyer Rettig for Crypto Policy Role – Bloomberg Law

February 9, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

OKX Takes Centre Stage as Naming Rights Sponsor of the … – GlobeNewswire

February 9, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global