Up to 100,000 fine and jail for counterfeiting cheque in UAE

  DUBAI – Forging or counterfeiting a cheque in the UAE is considered a crime, with the penalty of jail time and a hefty fine, according to the amended law by the UAE Central Bank. The new amendments on cheques took effect beginning January 2. Under the federal law, forging or counterfeiting a cheque, attributing it to others, or deliberately using a forged cheque is punishable with imprisonment of no less than one year. A fine of between Dh20,000 and Dh100,000 shall also be imposed on the violator. The same penalty will also be imposed on those who attribute a cheque to a third party by changing details through addition, deletion or other means with the objective of damaging a third party and with the objective of using it for forgery. According to the UAE Central Bank, the Commercial Transactions Law has been amended in accordance with best practices to keep pace with international developments. It also aims to develop a tight legislative framework for these transactions to govern dealing in cheques in such way as to ensure that it plays its role as a payment tool, in place of cash. ICA/Expat Media
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