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UAE’s counterfeiting currency gang sentenced to prison

UAE Times Now

The UAE Public Prosecution has advised the public to exchange currencies through trusted authorities.

Criminal Operation Unveiled 

A criminal gang involved in counterfeiting currencies has been sentenced to prison, marking a significant victory against fraudulent activities. The investigation and subsequent legal actions were initiated by the Federal Capital Public Prosecution.

Social Media Deception 

The group of suspects came under scrutiny due to their deceptive activities on social media platforms. They orchestrated a scheme that aimed to defraud unsuspecting individuals by advertising counterfeit currencies through these online channels.

Luring Victims with False Discounts 

To attract potential victims, the criminals would offer enticing discounts of up to 50 percent on the face value of genuine currency. This deceptive tactic proved effective in drawing the attention of those seeking financial deals.

Exchange and Delivery Scheme 

Once an interested party contacted the criminals, they would establish a location for currency exchange and delivery. Under the guise of legitimate transactions, the suspects carried out their fraudulent activities.

Counterfeit Currency for Genuine Dirhams 

During the exchange, the criminals would provide the victims with counterfeit currency, which appeared real but was, in fact, fake. 

In return, they would receive genuine UAE dirhams from their victims, thereby profiting from their deceitful operation.

The sentencing of this criminal gang serves as a clear message that fraudulent activities will not be tolerated, and those involved will face legal consequences. 

It also underscores the importance of vigilance and caution when engaging in financial transactions, particularly through online platforms.

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