Q: Hello all, I am based in the UAE, however, I have been scammed by a CFD trading broker called (........) based in the UK (they claim to be based in the UK). Their site is down now and they have deleted all the communication channels. However, I found that they have hosted the same site on a different domain. I have lost more than $210,000 dollars. The total withdrawal amount was close to $500,000. When I tried to withdraw my funds from the platform, they asked for more funds as tax payment and after I paid those, they kept on bringing new issues and asking for more funds. When I declined their request on WhatsApp and told them that I will report to the police and file cases, they seem unmoved by these. They even told me to go and report them and they don't care. Please let me know the actions I can take against those fraudsters. I really don’t want to let them escape this easily especially with our hard-earned money. Kindly let me know if there is a way to recover my funds.

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 Singapore but operated by Chinese people. I have invested 150k AED into it, coming all from my credit cards. When I wanted to withdraw money, the customer service said that I need to pay taxes on the profit amount. After paying 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 20% of my account amt (10k USD) within a week to prove that I didn't launder money, or it will be frozen and will report me to the FI dept. Can you please advise if this is legal according to the laws and regulations of Singapore? 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. Shall I report to the police now?

Q: Good morning. Someone stole information from my phone and is now using it to terrorize my contacts. He saved all contacts, photos and videos, some of which including other people. He keeps texting and threatening to post them on social media. How do I handle this situation without incriminating the people in the photos/videos?

Q: What action can I take against a contractor who has been paid but did not deliver a project and is no longer responding?

Q: Dear Sir/Madam, Unfortunately, I have fallen victim to cybercrime. One of our clients received a suspicious email containing a forged letterhead with a photoshopped signature and stamp, as well as an unauthorized IBAN (International Bank Account Number) that does not belong to us. As a result, the client transferred funds to that fraudulent account without confirming with us. Regarding our legal rights to recover the payment, it is essential to seek advice from a qualified attorney who is familiar with cybercrime and financial fraud. They will be able to guide us on the best course of action. Depending on the jurisdiction and circumstances, we may explore options such as initiating a legal case against our client to recover the funds. However, it is essential to have proper legal counsel to ensure that we take the appropriate steps and protect our rights throughout the process.

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.

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.

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.

The provisions of this Federal Law, known as the "New Consumer Protection Law", govern Consumer Protection regulations in the United Arab Emirates. The New Consumer Protection Law repeals the previous UAE Consumer Protection Law (Federal Law No. (24) of 2006 on Consumer Protection).

The provisions of this Cabinet Resolution No (12) of 2007 Concerning the Executive Regulations of Federal Law No (24) of 2006 on Consumer Protection.