Al Khalifa Group, one of the leading legal service providers in Europe and the Middle East has seen an increase in cybercrime in the past year. Al Khalifa Group has been dedicated to helping people with financial losses who have fallen victim to more sophisticated forms of financial fraud. The company’s team of attorneys use their extensive knowledge and experience to fight for people affected, providing them with unsurpassed representation and a 79% case success rate.
Cybercrime is not only a problem for businesses, but for individuals as well. Scams are becoming more and more common in areas such as the Middle East. The growth of cybercrime is starting to have an impact on the regional economy (research shows that losses in the region are estimated at $3 billion) and people’s lives have been severely affected.
An increase in scams and phishing attacks due to lax cybersecurity protections has also made the problem worse. Cybercriminals are taking advantage of the lack of awareness through more sophisticated online scams. Governments and businesses are investing more in technology to help fight against this crime but there is more to do.
Junior Partner Imran Ahmad noted that a prior case in Belgium, which involved a complex case of online embezzlers who used the native tone of the Arabian gulf to convince unsuspecting people to hand over large sums of money, was a typical example of the problem.
Amal Mohamed from the UAE was one such victim of financial fraud: “I was scammed out of a significant amount of money after having high hopes of making a return on and investment, and I had contacted and worked with a lot of companies before. The amount was significant, amounting to approximately $500,000 that I had lost.”
Fraudulent Forex companies and investment firms have also been behind numerous scams. Through the use of offshore trading platforms and fake investment schemes to lure unsuspecting people into investing their money into scams, many have been targeted.
The Middle East has been particularly affected with people being promised fortunes and big returns but when they try to invest in these schemes, they find out that there is no product, service or company that they have invested in and often times there is no one behind the scheme.
Khaled Azzam, Head Lawyer for Khalifa Group’s Cyber Crime Management division, said that many people had given up ever receiving their lost money, and had gone to local lawyers without success. Due to the difficult nature of these scams, it often requires a specialist team of experts to take strong legal action.
After requesting help for his case, Amal Mohamed said “I received a message from the Khalifa Office from Belgium, and an attorney called Omar Abou El Hassan spoke to me and I sent everything to him regarding my investment fraud case. I want to praise him for helping me recover all my funds. I had given up hope. If it were not for the Khalifa office, I wouldn’t be in this good place. I encourage you to hire them. I have nothing but praise for their service! Thank you!”
People with low incomes can be fooled into investing their life savings while others who have good intentions may fall victim as well. Investors can be promised high returns on their investments but when it comes time to collect, they find that there are no products or services to buy.
Al Khalifa Group has been fighting to help people restore their finances, and have launched successful proceedings against companies that have committed financial crimes.
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