DUBAI, Feb 19: A UAE-based company has suffered severe financial setbacks and reputational damage after scammers allegedly used its logo and product images to deceive customers, resulting in losses worth hundreds of thousands of dirhams, according to its CEO.

A Business on the Brink

Shehroze Ramay, CEO of Simply The Great Food, revealed that since the scam began, the company has seen a drastic 90% drop in sales. "Our orders have plummeted, and I am now considering temporarily shutting down operations to contain the losses," he said.

The fraud first came to light around eight months ago through social media ads. Scammers replicated the brand’s logo and images of its A2 Desi Ghee product, promoting a fake offer for just Dh1. Using paid advertisements on platforms like Facebook, TikTok, and Instagram, they directed victims to deceptive websites that mimicked Simply The Great Food. The scheme required customers to complete a survey and enter payment details to claim the "offer."

Devastating Impact on Victims

The scam has left numerous victims reeling from financial losses.

A Deceptive Tactic

For most victims, the fraud followed a similar pattern. Scammers lured them in with an unbelievable offer and redirected them to a fraudulent platform, where they were asked to complete a survey and enter their card details.

Dinesh Kumar recounted his experience: "I clicked on the offer while scrolling through Facebook, filled out a survey, and entered my card details. Moments later, I received an OTP from my bank, but the transaction failed. However, a few hours later, I was alerted that a transaction of Dh14,980 had been declined due to my credit limit, and another of Dh5,030 had gone through. I later discovered that my card had been linked to Apple Pay without my knowledge."

Although Dinesh contacted his bank immediately and blocked all his cards, he was only able to recover 25% (Dh1,275) of his money. Others, like Nageena, who lost Dh1,500, received no reimbursement from their banks, which claimed the transactions were "authorized."

The Rise of Sophisticated Financial Malware

Cybersecurity experts warn that such scams are becoming more advanced. Dubai-based cybersecurity expert Rayad Kamal Ayub explained that cybercriminals are now using AI-driven financial malware like PixPirate, which operates through malicious apps to:

"PixPirate is particularly dangerous because it can steal banking credentials and bypass OTP-based security measures," Ayub added.

Fighting Back

Shehroze and his team have been actively warning customers about the scam through social media, online communities, and direct communication. UAE authorities have successfully taken down some fraudulent websites, but scammers continuously create new ones to evade shutdowns.

"These scams have targeted big brands like KFC and Al Baik, but we are a small, homegrown business. It took me eight years of hard work to build my brand, and now, my company’s reputation is at stake," Shehroze lamented.

As authorities continue to investigate, victims and business owners alike are urging consumers to remain vigilant and verify offers before making purchases online. (Khaleej Times)