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Why UAE banks are moving beyond SMS, OTPs and security codes

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The Central Bank of the UAE has instructed financial institutions across the country to strengthen fraud prevention systems and tighten customer authentication procedures as digital banking scams continue evolving globally.

The move comes as the UAE expands its efforts to protect consumers and strengthen confidence in the country’s financial system amid growing use of online banking and digital payment services.

According to the Central Bank, banks and financial institutions are now required to improve how they verify transactions and avoid depending on a single authentication method, such as SMS alerts or one-time passwords (OTPs), which fraudsters increasingly target through sophisticated cyber scams.

Real-time fraud monitoring

The regulator also confirmed it has started building a new Anti-Fraud Operations Centre known as CAFOC, which will act as a central platform for monitoring suspicious activity in real time and coordinating rapid responses across the banking sector.

The new centre is expected to combine advanced tracking systems, analytical tools and data-driven fraud detection capabilities designed to identify emerging threats faster and improve coordination between banks and government authorities.

The Central Bank added that the anti-fraud framework will also help collect and analyse fraud trends and behavioural patterns, allowing regulators to develop more targeted supervisory policies and interventions.

The latest measures arrive as financial fraud risks continue rising worldwide alongside rapid digital transformation and increased reliance on mobile banking, online transactions and electronic payment systems.

Authorities said ongoing engagement with banks and licensed financial institutions has helped strengthen implementation of the updated requirements and improve the sector’s readiness to deal with increasingly complex fraud threats.

Cybersecurity and financial fraud prevention have become major priorities for regulators globally, with many countries introducing stricter digital authentication standards as online scams become more advanced.

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.

Crime

Don’t fall for it: Dubai Police warn against fake work-from-home job offers

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Looking for a side hustle? Be careful.

Dubai Police have warned residents not to fall for fake part-time job offers circulating on social media and messaging apps after uncovering a scam that tricked a young man into helping criminals move stolen money.

In a social media post, Dubai Police shared how the scam typically unfolds. The victim responded to an online advert promoting a work-from-home job with flexible hours and quick earnings. After being told he had been accepted, he was instructed to open a new bank account or use his existing one to receive and process what were described as customer payments.

Money was then deposited into his account, and he was instructed to transfer it to other bank accounts in exchange for a commission.

The scammers claimed he was working for an overseas financial services company, but investigators later discovered the transfers were linked to a criminal network.

The victim told police he believed the job was genuine and had no idea he was helping fraudsters.

How the scam works

Police said these scams usually begin with online job ads offering fast cash for simple tasks.

Victims may then be asked to:

  • Use their bank account to receive and transfer money.
  • Pay registration or activation fees.
  • Share personal or banking details.
  • Complete financial transactions for a commission.

Authorities warned that scammers often use unsuspecting people’s bank accounts to move illegally obtained funds, which could leave the account holder facing serious legal consequences.

How to stay safe

Dubai Police urged job seekers to:

  • Verify employers before accepting any job offer.
  • Never share bank details with unknown individuals or companies.
  • Avoid jobs that ask you to transfer money on behalf of others.
  • Ignore employers requesting upfront payments or registration fees.

Anyone who receives a suspicious job offer is encouraged to report it through Dubai Police’s eCrime platform or by calling 901 for non-emergency assistance.

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Dubai sets up new committee to tackle misinformation and fake news

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  1. Dubai is setting up a new committee to combat misinformation and fake news while strengthening clear, transparent communication about the emirate’s achievements.

The move follows a directive from Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council.

The new Dubai Media Narrative Committee will be chaired by Mona Ghanem Al Marri, Vice Chairperson and Managing Director of the Dubai Media Council.

The committee will shape Dubai’s official media narrative, define key communication priorities for government and private sector entities, and recommend policies and strategies to the Dubai Media Council for approval and implementation.

Sheikh Ahmed said a strong and credible media narrative has become an essential part of Dubai’s development journey, adding that the emirate’s creative and intellectual talent provides a solid foundation for telling Dubai’s story in line with the leadership’s vision.

The initiative aims to ensure accurate communication, counter false information and reinforce public confidence through a unified and transparent approach.

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Salary day scams on the rise, Abu Dhabi Police warn

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Abu Dhabi Police have warned residents to stay alert as online fraud and financial scams tend to increase during the salary payment period.

Authorities said fraudsters are taking advantage of payday by using fake advertisements, phishing links and fraudulent offers to steal money and personal information.

What to watch out for

According to police, scammers are posing as legitimate businesses and organisations to trick victims through:

  • Fake property rental and sale listings.
  • Bogus residency and visa services.
  • Fraudulent job and labour recruitment offers.
  • Fake insurance products.
  • False advertisements for vehicles allegedly seized by Abu Dhabi Customs.
  • Fake investment opportunities.
  • Counterfeit event tickets.
  • Websites impersonating government agencies and well-known organisations.
  • Requests to download remote access apps.
  • Demands for advance payments or deposits for goods, services, training courses or fake certificates.

How to stay safe

Abu Dhabi Police urged residents to:

  • Never share bank account details, passwords or one-time passwords (OTPs).
  • Avoid clicking on suspicious links or responding to unsolicited offers.
  • Verify sellers before transferring money or paying deposits.
  • Use only official websites and mobile apps for government services.

Residents who suspect they have been targeted by fraud are encouraged to report incidents through the Aman service.

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