How to protect yourself from financial fraud

Feb 18, 02:55 AM
One of the biggest personal finance concerns many people have faced over the years is dishonest advisers selling complex, high-commission financial products to unsuspecting investors that can lock them in for years.

Amber Waheed is one of them. The Dubai-based business strategist and author of the recently released The Great Fraud Fightback lost $80,000 after being duped by her adviser into signing up for long-term investments she believed were low risk.

It’s a familiar, heart-breaking tale for many. But Ms Waheed decided to fight back and took her case to the UAE regulators – marking the first step in what turned out to be a landmark legal case in the UAE when her adviser was convicted of offering financial advice without a licence.

Host Felicity Glover, the Personal Finance Editor at The National, is joined by Ms Waheed who talks about her experience and offers her advice to victims of financial fraud.