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UAE Central Bank revokes Malik Exchange licence, imposes Dh2m fine

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The Central Bank of the UAE (CBUAE) has revoked the licence of Malik Exchange and imposed a fine of Dh2 million after the company was found in breach of anti-money laundering and counter-terrorism financing (AML/CFT) regulations. The exchange house has also been removed from the Central Bank’s official register.

The decision followed a regulatory investigation, which concluded that the company failed to comply with the UAE’s Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework. According to the Central Bank, the violations were serious enough to warrant both financial and operational penalties, effectively shutting down the exchange.

Strong message to financial institutions

The CBUAE stressed that it regularly monitors financial institutions, including exchange houses, to ensure strict adherence to national laws and international standards. The authority said it will continue to take “deterrent action” against companies that fall short of their obligations.

“Through its supervisory and regulatory mandates, the Central Bank ensures that all exchange houses, their owners and staff abide by UAE laws designed to safeguard the transparency and integrity of the national financial system,” the regulator said in a statement.

The move underlines the UAE’s efforts to strengthen financial oversight and prevent the misuse of its banking and exchange sector for money laundering or terrorism financing.

Part of wider crackdown

Over the past two years, the UAE has tightened its regulatory framework in line with global best practices. Several exchange houses and financial institutions have faced fines or licence suspensions for failing to comply with AML/CFT rules.

The country has also established new bodies, such as the Executive Office of Anti-Money Laundering and Counter Terrorism Financing, to coordinate national efforts and work closely with international partners.

Regulated exchanges

The Central Bank maintains a comprehensive list of authorised operators, ensuring consumers have alternative, regulated options for sending and receiving money.

The authority has advised the public to only deal with licensed financial institutions, warning that using unregulated operators puts individuals at risk of fraud and non-compliance with UAE law.

With over 35 years of experience in journalism, copywriting, and PR, Michael Gomes is a seasoned media professional deeply rooted in the UAE’s print and digital landscape.

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Dubai Police warn against public Wi-Fi: Here’s how to stay safe online

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We’ve all been there, out at a cafe, waiting at the airport, or shopping at a mall, when that “Free Wi-Fi” sign pops up, and we instinctively connect. But Dubai Police are warning residents to think twice before logging on.

Public Wi-Fi networks, while convenient, can be a playground for hackers, especially when used for sensitive tasks like online banking or logging into personal accounts.

The Hidden Dangers Behind Free Wi-Fi

According to Dubai Police, many public networks are unsecured, meaning anyone nearby could intercept your data. Hackers can sneak in through these connections to:

  • Steal passwords and personal information
  • Install malware or spyware on your device
  • Access sensitive files or financial details

The UAE Cybersecurity Council has echoed this warning, revealing that more than 12,000 cyber breaches in 2025 were linked to public Wi-Fi, roughly 35 per cent of all cyberattacks in the country this year.

What You Should Never Do on Public Wi-Fi

  • Log in to your bank account or make online payments
  • Share or change passwords
  • Access sensitive company data

Smart Habits to Stay Protected

  1. Use mobile data or a trusted private network for any sensitive work.
  2. Verify the network’s name; fake hotspots often mimic legitimate ones.
  3. Use a VPN (Virtual Private Network) to encrypt your connection.
  4. Enable safe browsing features on your browser.
  5. Keep software and antivirus tools updated.

For Businesses Too

Organisations are also urged to tighten cybersecurity. A single data breach could lead to legal liabilities, reputational damage, and financial penalties.

That free Wi-Fi may cost you more than you think. As Dubai Police put it, stay alert, stay secure, and think before you connect.

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Don’t get scammed in the UAE: How to spot fake calls, messages and investment traps

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Think you’d never fall for a scam? Think again.
From fake bank alerts to too-good-to-be-true gold offers, online fraudsters are getting smarter and faster at tricking people into giving up their money or personal details.

That’s why Abu Dhabi Police have issued a new warning, reminding residents to stay alert as reports of phone and online scams continue to rise. The latest awareness campaign, “Be Cautious”, aims to help people recognise red flags before it’s too late.

Here’s your quick guide to the most common scams doing the rounds, and how to stay one step ahead.

1. The fake bank call

You get a call claiming to be from your bank, warning that your account has been “blocked” or “suspended”. The caller asks for your card details, PIN, or OTP to fix the problem.

Don’t fall for it: Banks in the UAE will never ask for personal or banking information over the phone. Hang up immediately and contact your bank using official channels.

2. The bogus text or email

You receive a message saying your package is waiting, or your bank account needs verification, complete with a clickable link.

What’s happening: That link could lead to a phishing site designed to steal your login details.
Always type official website addresses directly into your browser; never click random links.

3. The investment that sounds too good to be true

Fraudsters often promise unrealistic returns or “guaranteed profits” through social media ads or WhatsApp groups.

Be cautious: If it sounds too good to be true, it probably is. Only invest through licensed financial institutions or registered platforms in the UAE.

4. The fake chalet or rental deal

You spot a holiday home or weekend chalet online for an unbelievably low price. You’re asked to pay upfront, then the “owner” disappears.

Protect yourself: Always book through verified real estate or hospitality platforms, and never transfer money without confirming the legitimacy of the property or agent.

5. The ‘discount gold’ trap

Scammers may advertise cheap gold sales, asking for partial payments or deposits online. Once you transfer the money, the seller vanishes.

Remember: Always buy gold from licensed jewellers or trusted retailers.

How to protect yourself

Abu Dhabi Police recommend a few golden rules for staying safe online:

  • Never share your banking or ID details over the phone or text.
  • Avoid clicking links in unsolicited messages.
  • Verify sellers and investors before making payments.
  • Report suspicious activity to the police immediately.

The ‘Be Cautious’ campaign

Abu Dhabi Police’s Be Cautious awareness drive, now in its sixth edition, is running for three months in partnership with the Ministry of Interior, UAE Cybersecurity Council, Abu Dhabi Media, First Abu Dhabi Bank (FAB), and Abu Dhabi Islamic Bank (ADIB).

The campaign’s message is clear: staying informed is your best defence.

If you encounter suspicious messages, ads, or phone calls, report them via: Aman Service: 8002626 or SMS: 2828.

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UAE warns advertisers after unverified medical product promoted online

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The UAE Media Council has issued a strong warning to advertisers and influencers after taking legal action against a social media advertising account that promoted a product with unverified medical and therapeutic claims.

The advertisement, authorities said, lacked scientific evidence, had no approval from health regulators, and contained misleading information that breached approved media standards.

The Council confirmed that legal proceedings have been initiated against the account under the Executive Regulations of the Media Regulation Law, which governs advertising content across all media platforms in the country.

Officials stressed that misleading or unverified claims, particularly those related to health, pose serious risks to the public and will not be tolerated.

The Council also reminded advertisers, brands, and social media influencers to ensure all promotional content complies with regulations and is backed by verified information.

This latest action highlights the UAE’s tougher stance on misleading digital advertising, reinforcing its commitment to protecting public trust and safety.

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