Call centers in Noida and Jaipur that were orchestrating elaborate forex scams targeting UAE residents have abruptly gone silent following a Khaleej Times investigation that exposed their operations.
The investigative report revealed that agents at three call centres — two in Noida and one in Jaipur — used leaked UAE phone databases to impersonate Dubai-based brokers. They contacted victims through spoofed +971 numbers and pitched high-return investment schemes linked to unregulated trading platforms.
An employee from one of the Noida centres said panic swept through the offices after the exposé began circulating on social media and messaging platforms. “It was everywhere — WhatsApp groups, internal chats. Managers were scrambling to find out how the operation was leaked,” the employee said on condition of anonymity. “We were all told to leave immediately and not return until further notice.”
This is not the first time such operations have folded under public scrutiny. Just last month, a Dubai-based call centre operating from the IMPZ area, which pushed similar fraudulent schemes, shut down overnight after being exposed in a separate Khaleej Times report. Employees were sent home without explanation or severance.
The latest investigation traced multiple scam platforms — including F1Capitals, Algo Global International, Arbitrage Prime, and Oscar Markets — to the same Saint Lucia address. Technical evidence such as domain registrations, backend systems, and proxy email usage revealed that these websites were part of a wider, coordinated fraud network operating across India and the UAE.
Agents working at these centres reportedly used polished sales scripts and financial jargon to convince UAE residents they were dealing with licensed Dubai-based brokers. Victims were lured into transferring funds to foreign accounts under the guise of forex and crypto trading — only to be ghosted once payments were made.
Since the report’s publication, Khaleej Times has received a flood of messages from distressed victims. Some reported losing as much as AED 500,000, while others said the investigation helped them avoid falling into the trap.
Earlier, the UAE Ministry of Interior had issued a public advisory warning residents to verify investment platforms through the Securities and Commodities Authority (SCA) before committing funds. The ministry emphasized the growing threat of cross-border fraud and advised residents to remain cautious of unsolicited calls, particularly those promising guaranteed returns.
As enforcement authorities continue to investigate the links between these offshore platforms and their on-ground operators, it remains unclear whether legal action will be pursued across borders.
For now, the shuttered offices in Noida and Jaipur stand as a testament to the growing power of investigative journalism in holding fraud networks accountable — and a cautionary tale for would-be investors across the region.
Bd-pratidin English/ Jisan
