They ensnared the elderly man, the scammers took away his 30 years of savings

A Dubai retiree lost over 400,000 dirhams to online investment scams, which exploited his desire for quick profits. Initially, he transferred small amounts to an investment group found on social media, but after seeing initial gains, he sent larger sums. When he attempted to withdraw his funds, scammers demanded more money. After two months, he reported the incident to the police, but the funds had already been transferred through various accounts, complicating recovery efforts. Authorities noted that about 50% of fraud reports are linked to social media, and scammers often target young adults with fake job offers. They also impersonate officials to manipulate victims into transferring money, emphasizing the need for caution online.