“A Criminal Gang Sentenced for Counterfeiting Currency Scam
A criminal gang involved in counterfeiting currencies has been sentenced to prison, following an investigation initiated by the Federal Capital Public Prosecution. The gang defrauded individuals through a deceptive scheme promoted on social media platforms.
Their modus operandi involved claiming that they could provide genuine currencies at discounted rates of up to 50 percent. Victims were enticed by these offers, and upon contacting the suspects, they were provided with a location for currency exchange and delivery.
At the designated location, the suspects handed over counterfeit currency to the victims in exchange for genuine UAE dirhams. Once the transaction was completed, the criminals would promptly flee the scene, leaving their victims realizing that they had been scammed.
The UAE Public Prosecution emphasizes the importance of obtaining and exchanging currencies through licensed authorities. It strongly advises against placing trust in individuals on social media platforms, particularly those who target individuals seeking quick monetary gains.”