FRAUD AWARENESS
Protect Yourself from Financial Fraud
Fraudsters may impersonate investment firms, their employees or regulatory authorities to steal your money or personal information. Learn how to recognise common fraud schemes and protect yourself.
Three Essential Rules
Never Share Your Confidential Information
Never share your passwords, PINs or one-time passcodes (OTPs) with anyone. Never disclose these details over the phone, by text message, email or messaging apps.
Verify Payment Details Before Transferring Funds
Transfer funds only in accordance with official payment instructions issued by MEFIC Capital. If you receive a request to change bank account details or transfer funds to a new account, verify the request through our official channels before proceeding.
Always Verify Before Taking Action
If you receive an unexpected call or message, do not rely on the contact details provided in it. Verify the identity of the person contacting you through MEFIC Capital’s official channels published on mefic.com.sa.
How Is Your Identity Verified?
Something you know
Such as your password or PIN.
Something you have
Such as a trusted device or a verification code sent to your registered mobile number.
Something you are
Such as your fingerprint or face recognition.
How MEFIC Capital Will Contact You — and What We Will Never Ask You to Do
What MEFIC Capital Does
- Contact you through the contact details registered and maintained in our records.
- Send statements and notifications through our approved official channels.
- Make investment fund information and documents available through the relevant official channels.
- Allow you to verify the identity of our employees through our official contact channels.
What MEFIC Capital Will Never Ask You to Do
- Disclose your passwords, PINs, or verification codes.
- Transfer funds to unapproved personal accounts.
- Install remote-access software or share your device screen.
- Pay using gift cards or cryptocurrency.
- Guarantee returns on any investment.
- Pay unauthorised fees to release profits or withdraw funds.
- Make an immediate investment decision under pressure.
Common scams targeting investors
Fake Investment Offers
Advertisements or messages on social media and messaging apps may promise guaranteed or unusually high returns. All investments involve risk, and returns cannot be guaranteed.
Impersonation Scams
Fraudsters may impersonate MEFIC Capital employees, bank representatives or regulatory authorities to offer investment opportunities or claim that your account is at risk, in an attempt to obtain your money or confidential information.
Phishing Messages
Text messages or emails may contain links to fake websites that resemble official websites, with the aim of stealing your login credentials or personal information.
Fake Trading Platforms
Fake platforms or apps may display fabricated profits to encourage further deposits, then prevent you from withdrawing your funds.
Fund Recovery Scams
Fraudsters may offer to recover money you previously lost in exchange for an upfront fee or your financial information.
Changes to Bank Details
Fraudulent messages may claim that MEFIC Capital’s bank account details have changed and ask you to transfer funds to a different account. Always verify any change through our official channels before transferring funds.
Warning Signs That Require You to Stop and Verify
Any one of these warning signs should prompt caution. Stop before taking action and verify the request through a trusted contact channel.
- 01Guaranteed returns or unusually high profits with no risk.
- 02Pressure to make an immediate decision or transfer funds.
- 03Being asked to keep an offer or transaction secret.
- 04Links or apps from untrusted sources.
- 05Dealing with an entity whose authorisation to conduct investment activities has not been verified.
- 06Requests to transfer funds to a personal or unapproved account.
Protect Your Accounts And Devices
- Use a strong, unique password for every account
- Enable two-step verification wherever available.
- Type mefic.com.sa directly into your browser instead of following links.
- Download apps only from official app stores and verify the publisher.
- Avoid using public Wi-Fi when conducting sensitive financial transactions.
- Keep your phone’s operating system and apps updated.
What to Do If You Suspect Fraud
Stop
Stop communicating with the suspected fraudster. Do not send any further funds or verification codes.
Do not click
Do not open suspicious links or attachments. Keep messages and communication records as evidence.
Contact MEFIC Capital and Your Bank
If you have transferred funds, contact your bank immediately for assistance with the transaction and report the incident to MEFIC Capital through our official channels.
Report the Incident
Report the incident to the relevant authorities and keep the report reference number and any supporting documents.
Report Suspected Fraud or Impersonation
Report any suspected fraud or attempt to impersonate MEFIC Capital immediately, even if no financial loss has occurred.
Phone
Official website
Head office
7702 King Fahad Road, MEFIC Tower, Riyadh
CST Commission
Kollona Amn Platform
Select Cybercrimes then select Scam