UAE authorities on Thursday issued an alert, warning residents against dealing with bogus investment entities.
Fake ads have been circulating on social media platforms, encouraging people to “subscribe in Etihad Airways shares”, the Securities and Commodities Authority (SCA) warned.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Do not deal with these “fictitious advertisements”, the SCA and Etihad Airways told investors in an advisory.
Residents have constantly been reminded to rely only on official sources for information. Before signing any agreements or making any financial transactions, verify the entity’s identity first, the SCA said in a recent notice.
Details about licensed companies are readily available on the SCA’s official website, the regulator added.