Dubai: Emirates issues warning as investment scam exploits airline's name.
06 December 2023, 12:00 AM
31 January 2024, 12:00 AM
Emirates has issued a warning about a fraudulent investment scheme circulating on Facebook, exploiting the airline’s name. The misleading post falsely declares the launch of a new platform for investing in Emirates stocks, featuring images of the CEO and an Emirates plane.
The deceptive scheme promises investors nearly 10 per cent monthly returns on a platform claimed to be government-regulated. The post entices with the claim, "You have a unique opportunity to generate $9700 a month by investing in Emirates shares starting at $200."
An Emirates spokesperson cautioned about the bogus investment opportunities circulating on social media.
"We are aware of a social media page circulating regarding fraudulent investment opportunities in Emirates, and we advise caution," the spokesperson said. "All Emirates announcements are hosted on our official channels," the statement emphasised.
The misleading post has flooded the Facebook feeds of unsuspecting residents throughout the week.
Those who respond are directed to the registration page of a website named trademasterhub.com. The accompanying message assures users, "We are here to guide you every step of the way. To get started, please click on the link below that corresponds to your preferred language. It will take you to the registration page, where you can provide your personal details and embark on your investment journey.'
The registration form lures potential investors with a bold promise: "Would you like to turn $250 into $7,500? One of our investors will explain how." Upon completing the form, participants receive a thank-you note along with a commitment of a call back within 24 hours.
During the call, a consultant purportedly assists in the process of opening and activating an account.
For those who disregard the call, a tantalising message towards the end of the registration process teases, "Be ready to answer our call because there is a BONUS awaiting for you."
Scamadviser, an online service using an automated algorithm to evaluate website legitimacy, raises suspicions about trademasterhub.com.
In a detailed analysis, Scamadviser states: "The review of trademasterhub.com is somewhat low according to our computer algorithm. Scamadviser rates every website automatically by examining the server's location, the use of an SSL certificate, ownership of the domain name, and other public and private sources. As said, the rating of the website is somewhat low. It is therefore recommended to do your own vetting to determine if the website is trustworthy or fake.”
Trademasterhub's website has now disappeared, along with the Facebook page promoting the scheme.