Cybersecurity firm Kaspersky has issued a regional alert warning users in the Middle East to stay vigilant amid a growing wave of fake investment platforms designed to steal personal and financial data.
Since 2024, Kaspersky solutions have blocked more than 100,000 phishing scams imitating legitimate trading and investment services across the UAE, Saudi Arabia, Qatar and Egypt.
The company said these fraudulent sites are becoming increasingly convincing, often featuring professional-looking dashboards, trading charts and customer support chats. Victims are typically contacted through social media, messaging apps or unsolicited calls from scammers posing as investment advisors promising high returns.
Once a user deposits funds, the platforms simulate trading activity and display fake profits to build credibility, while no real transactions occur.
Many fake platforms also use Arabic-language content, local branding and even “halal” or “Islamic investment” labels to appear legitimate. Clicking on phishing links or downloading fake apps can expose sensitive information, such as payment credentials and login details, which can then be used for identity theft, fraud or further cyberattacks.
“Online scams have become increasingly sophisticated as cybercriminals invest significant effort into making them look authentic,” said Olga Altukhova, Senior Web Content Analyst at Kaspersky.
“They rely on trust as their way in, using every tool available, whether it’s advanced technologies like artificial intelligence or professional designs that mirror real investment sites. The key takeaway is to pay attention to basic details such as the website domain, spelling errors, payment methods and signs of secure encryption before sharing any data or investing money.”
The warning follows a joint awareness initiative between Kaspersky and eToro, the global trading and investment platform, aimed at promoting safer online investment habits.
George Naddaf, Managing Director of eToro MENA, said investors should always confirm that platforms are licensed and regulated before transferring funds. “A few minutes of due diligence can protect years of hard-earned savings,” he said.
Kaspersky advises users to stay cautious when receiving investment offers via email, social media or messaging apps. The company recommends choosing only licensed and trusted platforms, avoiding the sharing of personal information with unverified contacts, and being sceptical of guaranteed or time-limited investment opportunities.
Users should also maintain strong passwords, enable two-factor authentication, and use comprehensive cybersecurity software with anti-phishing protection.
The company added that awareness and vigilance remain the strongest defences against online fraud as scammers continue to evolve their methods to exploit digital investment trends across the region.
Follow us on
