How to protect yourself from financial fraud – Pocketful of Dirhams

Amber Waheed, author of The Great Fraud Fightback, offers advice on how to avoid dishonest financial advisers

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 is a familiar, heart-breaking tale for many. But Ms Waheed decided to fight back and took her case to the UAE regulators. This was 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 advice to victims of financial fraud.

Listen to last week's episode on how to save thousands on your home loan: