A criminal gang has received prison sentences for their involvement in a counterfeit currency scheme that preyed on unsuspecting individuals. The investigation into this illegal operation was initiated by the Federal Capital Public Prosecution, revealing a web of deception orchestrated through social media platforms.
The suspects in question employed a cunning strategy to defraud individuals, primarily by promoting counterfeit currencies on various social media platforms. They lured potential victims by offering enticing discounts of up to 50 percent off the face value of genuine currency. Once a victim expressed interest, the suspects would arrange a meeting location for the exchange and delivery of the counterfeit currency.
At the designated meeting place, the criminals would hand over the counterfeit money to the victim, who would then hand over genuine UAE dirhams in return. However, the scam became apparent only after the suspects vanished from the scene, leaving the victims to realize they had fallen prey to a fraudulent operation.
The UAE Public Prosecution has issued a stern warning to the public, urging caution and vigilance. They strongly advise individuals to obtain and exchange currencies exclusively through licensed and reputable authorities. Moreover, they emphasize the perils of trusting individuals on social media platforms, especially those who promise quick and easy ways to make money. This cautionary message serves as a reminder of the importance of verifying the legitimacy of financial transactions to safeguard against scams and fraud.