Picture for illustrative purposes only. ARCHIVE

UAE Public Prosecutor’s Office warns residents against money wire fraud

The Abu Dhabi Public Prosecutor’s Office has warned UAE residents about the dangers of money wire fraud on social networking platforms and websites. The warning comes amid reports of victims lured into schemes promising quick profits, attractive returns, and high rewards. Scammers use misleading ads or marketing techniques “to entice their victims to wire money for imaginary financial profits”, according to the Public Prosecution. The Public Prosecution urged residents and internet users to avoid dealing with unauthorised or unscrupulous parties who use ploys to target victims. The office emphasised the importance of ensuring that entities have the necessary licenses from relevant authorities before conducting any financial activities.

UAE warns of up to Dh1 million fine for wire fraud

The Public Prosecution has also stressed that wire fraud is a punishable offence under the law, and anyone found unlawfully appropriating movable assets, benefits, documents, or signatures using fraudulent means, a false name, or by assuming an erroneous capacity using the information network, electronic information system, or any computer means, will face imprisonment of at least one year and a fine of at least Dh250,000, and up to Dh1 million. The office urged the public to report suspicious activities to the relevant authorities to help combat wire money fraud and protect the community from financial losses. ICA/Expat Media
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