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Fraud Prevention and Awareness Program

Your Vigilance is Our Protection

At Baniyas Exchange, we recognize the significance of smooth currency exchange transactions and timely fund remittances. To ensure this, we've invested in advanced technology, collaborated with trusted Correspondent Banks, and partnered with renowned Instant Money Transfer Service providers. Our team of experts is committed to delivering the highest standards of professionalism and efficiency in meeting your currency exchange and fund transfer needs.

Report Fraud:

Understanding Fraudulent Tactics:

Fraudsters may use various methods to deceive you. Here are common tactics they employ:

  • Messages: Claiming you’ve won a prize or need to provide information for security reasons via phone, SMS, WhatsApp, email, or social media.
  • Phishing Emails: Mimicking official emails from banks or companies to trick you into sharing personal information.
  • ATM Scams: Using devices or cameras at ATMs to steal your PIN and card details.
  • SIM Swap Scams: Gaining access to your phone number to intercept OTPs for transactions.
  • Social Media Scams: Creating fake accounts to impersonate trusted organizations.
  • Magic Ink Scams: Fraudsters using special ink to alter checks or documents without removing signatures.

Protect Yourself:

  • Baniyas Exchange Will Never: Ask for personal details, such as your Emirates ID, bank account information, or passwords over the phone or via any unsolicited messages.
  • Verify: Always check the authenticity of any communication by contacting us directly through our official numbers or by visiting our branches.
  • Stay Informed: Regularly check our official website or social media channels for updates on legitimate promotions and alerts.
  • Be Skeptical: Do not trust unsolicited messages or calls asking for personal information, especially if they claim urgency.
  • Report Suspicious Activity: Immediately report any suspicious communication to us or the relevant authorities.

Common Fraud Types:

  • Email Phishing: Fraudsters send fake emails claiming your account is compromised, urging you to provide personal details.
  • Lottery Scams: You receive a message stating you’ve won a prize, but are asked to share sensitive information to claim it.
  • ATM Fraud: Devices or cameras installed at ATMs to capture your card details and PIN.
  • SIM Swap: Fraudsters obtain a new SIM in your name to intercept OTPs for fraudulent transactions.
  • Social Media Impersonation: Fake accounts pretending to be Baniyas Exchange, attempting to scam you with fake promotions.
  • Phone Fraud: Scammers pretending to be bank officials asking for personal details or claiming your account is frozen.

Stay Safe:

  • Never Share OTPs: Your bank will never ask for your One-Time Password (OTP). Do not share it with anyone.
  • Secure Internet Connection: Always use a secure internet connection when conducting transactions.
  • Verify Source: Before sending money or sharing information, confirm the identity of the person or organization contacting you.
  • Avoid Clicking on Suspicious Links: Fraudulent emails or messages often contain links that lead to fake websites.
  • Monitor Your Accounts: Regularly check your bank and exchange transaction records for any unauthorized activity.

Contact Us:

For any concerns or to report fraud, reach out to our dedicated fraud prevention team:

Remember:

Your security is our priority. Stay informed, stay vigilant, and help us in the fight against fraud.