Secure

Fraud Prevention

At Al Ghurair Exchange LLP, we have a zero-tolerance approach to fraud. We are committed to the highest ethical and legal standards, ensuring transparency, integrity, and accountability in everything we do. Protecting our customers and preventing financial crimes is our priority. Fraudsters may attempt to target you—always safeguard your money and personal information by staying alert and vigilant.

Types of Fraud and How to Avoid Them

1. Vishing

Never share personal, banking or financial information over the phone, even if the caller claims to be from a bank/exchange, government authority or trusted company.

2. Phishing

Do not click unknown links, open suspicious attachments or respond to unexpected emails requesting information or payment.

3. Smishing

Be cautious of fraudulent SMS or WhatsApp messages containing links, urgent requests or fake payment/refund notifications.

4. Social Engineering

Fraudsters may manipulate you into revealing confidential information or making a transaction. Verify the request independently before taking action.

5. Digital Brand Impersonation

Beware of fake websites, social-media accounts, advertisements and profiles impersonating banks, exchange houses, government entities or well-known brands.

6. Business Email Compromise (BEC)

Be alert to emails or messages impersonating senior management, suppliers or business partners requesting urgent payments, account changes or confidential information.

7. Investment & Crypto Scams

Beware of fake investment platforms, cryptocurrency apps, guaranteed-return schemes and “pump and dump” offers. Do not transfer funds based solely on online promises.

8. Online Shopping / Advance-Fee Scam

Be cautious of fake products, services, jobs, loans or attractive offers that require upfront payment or personal information.

9. Loan & Job Scams

Fraudsters may offer quick loans, high-paying jobs or recruitment opportunities in exchange for advance fees, documents or bank details.

10. Romance / Relationship Scam

Scammers may build an online relationship or friendship and eventually request money, financial assistance or personal information.

11. Grandparent / Family Emergency Scam

Fraudsters may impersonate a family member or someone close to you and create an emergency requiring an immediate money transfer.

12. Prize, Lottery & Giveaway Scam

Be cautious of unexpected messages claiming you have won a prize and asking for fees, OTPs, personal information or payment to release the winnings.

13. QR Code Scam (Quishing)

Do not scan QR codes from unknown sources. Fraudsters may use QR codes to redirect you to fake websites or payment pages.

14. Identity Theft

Do not share copies of your Emirates ID, passport, bank details or other personal documents unless you have verified who is requesting them and why.

15. Money Mule Scam

Never allow anyone to use your bank account or financial details to receive or transfer money on their behalf. You could unknowingly become involved in financial crime.

Remember

STOP – THINK – VERIFY

If a request is unexpected, urgent or too good to be true, stop and verify it through an official and trusted channel before sending money or sharing information.

Report Fraud

We urge you to stay alert and safeguard yourself and others by reporting any fraudulent activity or suspicious incidents without delay. Please contact our Customer Service Centre below to report fraud. Please contact us at 0097142535600 / 600525439 or email us at info@alghurairexchange.com.

Whistleblowing

Al Ghurair Exchange LLP encourages employees and other stakeholders to speak up and report suspected fraud, corruption, misconduct, unethical or illegal activities, regulatory breaches, financial irregularities, or other conduct that may expose the Company to financial or reputational risk. Reports may be made in good faith through the designated reporting channels, including whistleblowing@alghurairexchange.com. All concerns will be taken seriously and handled appropriately, with confidentiality and protection against retaliation provided in accordance with the Whistleblowing Policy.

ABC Policy Statement

The Al Ghurair Exchange has zero tolerance for bribery and corruption. We are committed to conducting all business with integrity, transparency, and in full compliance with applicable anti-bribery and anti-corruption laws. Employees, vendors, contractors, and third parties must never offer, give, request, or accept any form of bribe or improper payment, directly or indirectly, to gain business advantage.

We promote fair practices, safeguard our reputation, and require all staff to report any suspected misconduct. In addition, the policy provides guidelines related to vendor and third-party due diligence, interactions with public officials, hiring and employment related risks, gifts and entertainment, and charitable contributions and sponsorships. The bribery and corruption risks will be monitored and managed effectively through ABC Framework in order to maintain a strong control system.

All investigations into allegations of bribery, corruption, or related misconduct shall be undertaken in a fair and impartial manner, without consideration of the individual’s position, tenure, or relationship with the Exchange. Such investigations shall be conducted by the Head of Risk & Fraud Prevention.

The Exchange mandates that all employees, including new hires, complete the training covering anti-bribery and anti-corruption measures, reporting procedures, and regulatory updates.

In accordance with AGEX’s ABC policy, employees and associated third parties are prohibited from:

  • Accepting, offering, proposing, or giving a bribe in any form. All gifts, hospitality, and entertainment must be lawful, reasonable, transparent, and properly recorded.
  • Providing or offering HR benefits to obtain or retain business favors, except in strict compliance with documented procedures, competitive processes, and professional standards.
  • Using sponsorships or donations to improperly influence public officials, gain undue advantage, or disguise bribery.
  • Engaging third-party service providers who do not maintain adequate anti-bribery and corruption controls.
  • Offering, promising, demanding, giving, or accepting any facilitation payments in connection with the company.
  • Handling funds that are known or reasonably suspected to originate from bribery or corruption.

We urge employees and stakeholders to speak up immediately about any concerns or evidence of bribery or corruption, with the assurance that they will be protected from retaliation. Any breaches of this policy may result in disciplinary action and legal consequences.