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UAE: Salik denies fake claims offering residents 'monthly income of Dh35,600'

The fraudulent website promises investment opportunities in the Dubai-listed company, using the CEO's photo to make the fake announcement

Published: Mon 5 Aug 2024, 6:00 AM

Updated: Mon 5 Aug 2024, 8:41 PM

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Dubai’s toll gate operator Salik has refuted a claim that it offers an estimated “monthly income of Dh35,600" by investing in its shares, and termed it a scam.

In a statement to Khaleej Times, the Dubai-listed company said that there has been a rise in “false promises of investment opportunities in Salik.” The toll operator asked customers to source all the information through its official channels.

A fake website with the photo of Salik's Chief Executive Officer Ibrahim Al Haddad is doing rounds. The website states that the CEO has “just concluded an agreement with the government to allow all citizens to invest in Salik shares through its new trading platform.”

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It adds: “You have a unique opportunity to generate $9,700 (approximately Dh35,600) monthly by investing in Salik shares starting at $250 (approximately Dh917).”

The website asks individuals to submit their name, email address and UAE mobile phone number.

Below is a picture of the fraudulent website:

Listed on the Dubai Financial Market, Salik shares are traded in UAE dirhams and not dollars as claimed by the website. On Friday, the toll gate operator’s shares closed at Dh3.380 per share, up 0.595 per cent. Salik is one of the most sought-after shares as the business model requires low capital expenditures.

In a statement, Salik advised its "customers and current or potential investors to remain cautious of fraudulent websites, emails and social media scams that misuse the company’s name."

"In recent months, there has been a rise in phishing messages, falsely promising investment opportunities in Salik and sharing unsafe links for recharging accounts and purchasing tags," according to the statement.

"Additionally, it is advised not to click on suspicious links or pop-ads and visit Salik’s official website and communication channels for the latest security updates,” the statement added.

Salik recently updated its terms and conditions for motorists and customers, with a maximum of Dh10,000 fine per vehicle in a year.

Under the newly-released conditions, the maximum aggregate amount of fines in relation to the Salik tolling system that may be imposed per vehicle for violation shall not exceed Dh10,000 in any given calendar year from January 1 to December 31, it said.

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