Nearly 50% of UAE consumers face digital payment scams

Nearly 50% of consumers in the UAE have fallen victim to digital payment scams, according to a new Visa survey. Among those surveyed, 15% reported being scammed on multiple occasions. Despite facing more sophisticated scams, many users are becoming aware of potential risks and are willing to follow stricter authentication measures during transactions. The survey indicates that 99% of participants are taking active steps to secure their online transactions. As a result, scammers are looking for new ways to bypass these defenses, often using AI tools to enhance their tactics. More residents in the UAE are shifting towards digital payments, with over 77% expressing a high level of trust in these transactions. Eighty-one percent of those involved in the survey expect to increase their use of digital payment methods in the coming year. Key findings show that 62% of respondents have been approached to transfer money on behalf of others. Interestingly, only 30% take full responsibility for falling victim to scams, while 55% believe the fault lies with others. Most participants (59%) feel confident in spotting fraud, but 92% worry that their family or friends might be tricked. The biggest warning sign for potential fraud, according to 68% of respondents, is a request to reset passwords due to a supposed data breach. Many consumers are cautious, with 61% avoiding emails that ask them to transfer money for others. Furthermore, 48% have activated text alerts to monitor their transaction activities.