Indian scam call centres impersonating Dubai brokers go dark after a KT exposé reveals how leaked UAE numbers were used to defraud investors.
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| After being exposed for running a forex scam on UAE residents, Indian call centres in Noida and Jaipur shut down operations in fear of retaliation. Image: CH |
Dubai, UAE – July 5, 2025:
Multiple Indian call centres posing as Dubai-based forex brokers have abruptly ceased operations following a Khaleej Times investigation that exposed a sophisticated scam targeting UAE residents.
The exposé traced the fraudulent activities to three centres — two in Noida and one in Jaipur — where agents were using leaked UAE phone lists and spoofed +971 numbers to impersonate licensed financial advisors in Dubai. Victims were tricked into transferring money to unregulated trading platforms under the pretense of high-return forex and crypto investments.
An employee from one of the shuttered Noida offices said panic broke out after the story went viral internally. “The report was being shared on every WhatsApp group. Managers were asking how this got out,” the employee revealed. “By the next day, everyone was sent home. We were told not to come back until things quiet down.”
This isn’t the first time a Khaleej Times report has forced such a reaction. In June, a similar shady operation based in Dubai’s IMPZ area abruptly closed after being exposed for pushing fraudulent platforms. Employees were dismissed without notice or severance.
The latest investigation uncovered a web of interconnected scam sites — including F1Capitals, Algo Global International, Arbitrage Prime, and Oscar Markets — all linked to a single Saint Lucia address. Their domains were registered under the same proxy email, and backend systems pointed to a coordinated cross-border cyber fraud network.
Call centre agents followed pre-written sales scripts to gain the trust of UAE residents, often speaking fluent English or Arabic and mimicking the style of legitimate brokers. Many victims lost substantial amounts — with some reporting losses of up to AED 500,000. Others narrowly avoided falling into the trap after reading the report.
The UAE Ministry of Interior previously issued a public advisory, warning citizens to verify any investment platform through the Securities and Commodities Authority (SCA) before transferring funds. Authorities stressed caution when receiving cold calls offering financial services.
While the scam centres have gone silent for now, cybercrime experts say these operations often resurface under different names. The trail of digital infrastructure, however, could help law enforcement trace the syndicate’s true masterminds.
The Khaleej Times has since been inundated with messages from victims, many seeking legal advice or expressing gratitude for the exposure that helped prevent further damage.
This episode underscores the urgent need for cross-border cyber enforcement, stronger telecom security, and public awareness in the fight against digital investment fraud. With technology now a tool for deception as much as for innovation, vigilance remains the best defense.