Don't believe 'fast money' offers, warns AD Police

  ABU DHABI – The Abu Dhabi Police (ADP) has warned the public to be cautious when dealing with advertisements of cryptocurrency trading companies. According to police, UAE residents should be careful not to be deceived by promises of earning “fast money”. Major General Mohammed Suhail Al Rashidi, Director of Criminal Security Sector, said fraudsters often target victims with promises of making vast amounts of money through cryptocurrency trading. Al Rashidi urged residents to avoid buying or trading in cryptocurrencies that are virtual units not covered by concrete assets and not subject to any regulations or controls. He said cryptocurrency prices are volatile, making them “high-risk currencies”. He said this makes it impossible to protect investors in cryptocurrencies. The police official also urged the public not to share their personal information or send or receive money from untrustworthy sources claiming to be cryptocurrency trading companies. Police urged the public to reported any fraudulent attempts or suspicious individuals by calling the toll-free number 8002626, or by sending an SMS to 2828. ADH/Expat Media
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