Dubai Police have arrested an Asian man using ‘magic ink’ to provide fake bank loans to victims. The fraudster conned individuals into believing he could assist them in obtaining bank loans in exchange for money. He then gave them fake documents printed with the ‘magic ink’, which vanished shortly after they received them.In a statement, the Dubai Police confirmed that the Fraud Prevention Center arrested the fraudster after receiving reports from victims about his crimes. They explained that he deceived them with fake business cards and a job ID, impersonating a bank.The police noted that the fraudster employed two deceptive tactics to mislead his victims. First, he convinced them to sign documents, such as ‘Account opening fees’, in exchange for money.His second tactic involved obtaining a cheque from the victims, writing the cheque details with magic ink fraud while they signed with a regular pen. Once the ink vanished, he substituted their names with his own and altered the amount, using his knowledge of their bank balances.
