Questions & Answers
Questions & Answers
8 available 8 • View allHow can a victim of a crypto scam claim his money back?

3
Q: Good day,
We are a group of people and residents of the UAE who invested in an international company that called themselves an investing company and promised their investors a big return.
In the end, we realized that the company was a scheme/pyramid, but unfortunately, it was late as we faced a company scam. And we lost a lot of money. Cases were opened all over the world against them.
The leaders of the company who called them "10* stars" were residents of the UAE; some of them still live here and they introduced us to Finiko schemes.
We need advice on where to start the case in the UAE and what is the right department to go to as the partners who were the main people of the company are hiding in the UAE with all the money?
Kindly note that all investments were done by crypto in bitcoin currency. All victims have the evidence.
We have sent complaints to e-crime, but the applications of all the victims got rejected and we cannot understand why.
Thanks in advance!


Jun 14, 2022
543
How to recover an amount taken by fraud from a bank account?
1
Q: Dear sir/madam,
Is there a chance to recover my 35,000 AED which was taken by fraud from my account on June 9, 2022?
The bank told me that the money was blocked and asked me to file a dispute.

Jun 26, 2022
390
I am a victim of a crypto scam. Can I claim my invested money back?


2
Q: I believe that I am a victim of a crypto scam. I met a girl on a dating app in December and she onboarded me to a crypto platform helping me invest using step-by-step screenshots.
I was consistently asked to deposit USD 20k money, however, raised USD 5k and she deposited USD 15k in my crypto account.
My withdrawal was declined and customer services asked me to pay 12k USD in tax on profit made in order to access these funds.
I arranged 9k and the lady paid 3k for me. Since 3k was not from my account, customer service asked me to pay it from my account which I duly did.
Then I was asked to deposit USD 15k as security since the initial funds were from someone else.
I did that and my withdrawal got approved but I was informed that the fund release is stuck as I need to pay USD 8.3k as a large channel fee and I would be upgraded to a premium client.
Post this payment, now I am being asked for USD 6.3k as a miner's fee on my whole account balance to get my withdrawal



Jan 14, 2023
358
A scammer took the money and did not deliver the items. What to do?


1
Q: Hello all,
I am based in the UAE; however, I have been a victim of scammers recently and am facing much distress.
I ordered some items like an iPhone, a laptop, AirPods, a Play Station, and smartwatches, and paid the whole payment upfront, but that scammer didn't deliver anything to me.
I lost almost 15,000 AED, and now I have opened a case against the scammer with Dubai Police.
I transferred the payment through an exchange by domestic transfer inside the UAE via 10 transfers because the scammer kept citing the delay in delivery and asked for more and more money to deliver the order.
I admire that I had enough stupidity to transfer the payment with almost blind faith in the scammer.
I have all the WhatsApp conversations which happened between me and the scammer, and all the payment confirmation slips, and the Emirates ID of the scammer.
My concern in writing this email is to get the money back from the scammer.
Thanks!



Mar 29, 2023
184
How to recover money from a cryptocurrency company who keeps asking for more money?


1
Q: What is the best way to recover money from a cryptocurrency exchange scam?
The platform I'm using to trade cryptocurrency is based in Dubai and operated by Chinese people. I have invested 100k AED into it.
When I wanted to withdraw money, the customer service said that I needed to pay IRS taxes on the profit amount.
After paying IRS taxes to them, they are now saying the financial intelligence department found that my account is abnormal and suspected of money laundering due to recent frequent trades and excessive TXN volume.
They want me to deposit 30% of my account amount (8k USD) within a week to prove that I didn't launder money, or it will be frozen and they will report me to the FI dept.
I don't have money anymore to pay them and I think it's just a scam. The platform recently had the system upgraded and changed; no license, no T&Cs, no physical address, no phone number.
Do I report to the police now?



Sep 11, 2023
752
A friend took cash and cheque from me for cryptocurrency he never sent and bounced the cheque
1
Q: It's a blackmail case.
So a few days ago, I needed to buy cryptocurrency in Dubai, and a friend offered he could help me. But I was a little short of money, I mean I wanted to get 20,000 dirhams worth of crypto but had only 15k.
So my friend told me it was okay, and he would arrange the 5k for me. So I transferred him 15k in his bank account and for the rest 5k, I gave him a cheque. He was supposed to transfer me crypto by that evening.
But 2-3 days passed and he did not send me crypto and he seemed to become very busy, not responding to calls and messages.
After a week, I finally got hold of him and then he backfired saying crypto is illegal in Dubai, he can't help me with this and that, and he started saying I owe him 5k, so I need to clear him for that.
He submitted that cheque to the bank and it bounced. He filed a case in court and today he sent me a message he's publishing news in the newspaper for the court notice and will put a travel ban on me.

Feb 22, 2024
72
Binance crypto trade scam: Can I recover my money?


3
Q: Dear Sir/Madam,
I made a mistake and paid someone in Binance to trade crypto for me and give me daily profits, but It turned out to be a scam.
He was asking me to pay more to get the profits, but I stopped and I asked him to return my money, but no positive answer.
Is there any chance I can get my money back through Binance or the bank?
All our communication was through Telegram.



Feb 23, 2024
177
How to claim the money I earn and delay penalty from a prop firm?
0
Q: Hello,
There is a prop firm refusing to give me my payout accusing me of copy-trading. Every time I provide evidence that I’m not copy-trading they ignore me and send me copy-pasted emails.
In their policy, they say that for every 24 hours the payout is delayed, they pay +$1,000.
Would it be possible to go after them legally for my payout?
And on top of that, the $1,000 for every 24 hours, they refuse to pay me or delay the process of making a decision on what they want to do?
The company is [-----] and they operate their HQ out of the UAE which is why I messaged you.
Thank you, Sir.

Mar 29, 2024
56
Legal blog
5 available 5 • View allتشريعات دولة الإمارات بشأن مواجهة غسل الأموال ومكافحة تمويل الإرهاب 4
مع صدور قرار مجلس الوزراء رقم (58) لسنة (2020) في شان تنظيم إجراءات المستفيد الحقيقي، ومدى مساهمته في الحد من جريمة غسيل الأموال و تمويل الإرهاب، لا بد بدايةً من معرفة مفهوم غسيل الأموال و تمويل الإرهاب. تُعرَّف عملية غسل الأموال بأنها كل معاملة مالية أو مصرفية تهدف إلى إخفاء أو تغيير هوية الأموال المتحصلة بطرق غير قانونية، وذلك بتمريرها عبر النظام المالي والمصرفي لكي تظهر على أنها نابعة من مصادر شرعية، و من ثَمَّ إعادة ضخها واستثمارها بشكل قانوني مغاير لحقيقتها.
Jun 15, 2021
1804
Dubai’s New Virtual Assets Law Boosts UAE’s Crypto Market 4
The new law is applicable to all entities dealing with virtual assets that are set up on the mainland as well as free zones, including special development zones. However, it does not apply to the Dubai International Financial Center (DIFC), which will have its own set of rules and regulations governing all virtual assets entities registered with the DIFC.
May 10, 2022
404
Understanding the Intricacies of Money Laundering 0
Money laundering represents a grave concern globally and is met with stringent legal measures in the United Arab Emirates (UAE) to combat financial crimes and preserve the integrity of the financial system. Here's an in-depth exploration covering various aspects of money laundering, the legal framework, and the challenges faced by legal professionals.
Feb 23, 2024
174
مكافحة غسيل الأموال في الإمارات العربية المتحدة 1
تم إنشاء المكتب التنفيذي لمواجهة غسل الأموال وتمويل الإرهاب بموجب قرار مجلس الوزراء رقم 10 لسنة 2021 ، ومن بين مهامه الإشراف على تنفيذ الاستراتيجية الوطنية لمكافحة غسيل الأموال وتمويل الإرهاب، ورصد وتقييم أية مخاطر تتعلق بمواجهة غسل الأموال ومكافحة تمويل الإرهاب وتمويل التنظيمات.
May 28, 2024
236
Cryptocurrency Asset Recovery: Case Study 2
Blackwater International, a leading private security and investigative company, has established a reputation for handling complex and high-stakes operations. One of the most challenging areas the company has ventured into is cryptocurrency asset recovery. This case study explores a recent successful recovery operation conducted by Blackwater International, highlighting their methodology, challenges faced, and the impact of their efforts.
Oct 30, 2024
135
Laws & Regulations
4 available 4 • View allFederal Law No. (3) of 1987 Promulgating the Penal Code 29
This Law promulgates the Federal Penal Code (Criminal Law) of the United Arab Emirates. Crimes and chastisement punishments shall be determined in accordance with the provisions of this Law and other penal codes.
Dec 8, 1987
47897
Federal Law No. (4) of 2002 On the Incrimination of Money Laundering 1
The law defines the crimes related to money laundering, commitments and the jurisdictions of the governmental authorities, and the sanctions against perpetrators of money laundering.
Jan 22, 2002
1794
Federal Decree-Law No. (34) of 2021 On Countering Rumors and Cybercrimes 0
The provisions of this Federal Decree-Law, known as the "New Cybercrimes Law", govern Cybercrimes regulations in the United Arab Emirates. The New Cybercrimes Law repeals the previous UAE Cybercrimes Law (Federal Decree-Law No. (5) of 2012 on Combating Cybercrimes).
Sep 20, 2021
347
Federal Decree-Law No. (31) of 2021 Promulgating the Crimes and Penalties Law 0
The provisions of this Federal Decree-Law No. (31) of 2021 Promulgating the Crimes and Penalties Law, known as the "New UAE Penal Code", governs criminal actions in the United Arab Emirates. The New Penal Code repeals the previous UAE Penal Code (Federal Law No. (3) of 1987 Promulgating the Penal Code).
Sep 20, 2021
468

Premium
Other answers by
177 177 answers •
View allHow to liquidate a free zone company after the death of one partner 0
I am a company owner In Shams free zone of 50 per cent share and have a partner visa. My partner was a Russian who went to Russia and died.
When I went to the free zone to cancel my visa and close the company, they have asked me to get his attested death certificate and NOC from his heirs.
The problem I am facing is his family doesn’t want to give the death certificate nor they want to give NOC. Now my resident visa validity is over and I am on fine every day.
Neither the free zone is cooperating nor the partner's family. What is the other way I can cancel my visa and close the company?
Can someone guide me, please?
Apr 19, 2021
685
How the objection of a client be dealt with after being notified for termination by DLD? 0
I have been notified by DLD that I am in breach of an off-plan sales agreement, and the developer wishes to terminate the agreement.
The date on the notice is March 9, 2021, and I received it from the developer on March 11, 2021. The notice says I have 30 days "from the date of being notified" to make the outstanding payment.
On the termination notice from DLD, a list of objections is present. One of the objections states that the developer must hand over the final SPA to me.
In this case, I have not received the final SPA from the developer. I made an objection in writing to the DLD pointing this fact out and sent it via email, and received a confirmation of the same from DLD by return e-mail on April 6, 2021.
30 days from March 9th is April 8th, or from March 11th is April 10th. Does the developer have to respond to my objection before the DLD will allow them to terminate the agreement?
In this case, will the time I have to make the payment be extended by any period?
Apr 19, 2021
1401
Opening a trustee with wife and signing a postnuptial agreement 0
I would like to open a trustee with my wife and sign a postnuptial agreement.
Apr 19, 2021
447
Closing a business while the local service agent is not reachable 0
Hi,
We have a professional services license (2 partners) + 1 local service agent registered with DED, Dubai.
The partners wish to close the business because of unavoidable circumstances. We wish to proceed with all the necessary paperwork for cancellation.
Unfortunately, the local service agent is not available. We have been trying to connect to him multiple times but have not been able to reach him.
The due date for the renewal of the company is coming up and we want to proceed with all the paperwork for cancellation prior to that.
Kindly advise us about the options if the local service agent is unavailable.
Apr 19, 2021
798
Returning to the UAE to run business after being convicted with a crime 0
Hi,
I want some information regarding my uncle. He was arrested in November 2015 and was in prison until 13 June 2016 when he was deported to Pakistan.
The reason for the arrest was that my uncle had his own business in Sharjah and he was involved in a case where his employee accused him of attacking him and other allegations. He was arrested and convicted.
He needs to reenter the country as he has his business in Sharjah but I believe he is blacklisted/banned. How can I find out if he is blacklisted/banned and how can it be removed to allow my uncle to reenter the country and take over his business?
Is there any way of helping to resolve this issue?
I know that if he enters on a visa, he could be arrested at the airport, and don’t want that to happen.
Thank you!
Apr 5, 2021
498
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