UAE: 3 Arrested After Being Caught With Dh27.5 Million In Fake Currency
Date
1/22/2025 4:49:48 AM
(MENAFN- Khaleej Times)
Three Arab nationals were arrested for possessing counterfeit foreign currency, which they intended to circulate in the UAE. The confiscated money amounted to $7.5 million (Dh27.5 million).
The arrests followed a tip-off from a source revealing that a businessman in Ras Al Khaimah, with the help of two accomplices, was planning to circulate the counterfeit currency.
The General Command of Ras Al Khaimah Police, in cooperation with the General Department of Criminal Security and the Criminal Investigation Department at the Ministry of Interior, successfully apprehended the gang.
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A specialised task force was immediately formed to investigate the tip-off and address the situation. Using undercover operations, the gang was arrested along with samples of the counterfeit currency. A subsequent search of their residences led to the seizure of additional counterfeit money.
Legal procedures have been initiated, and the suspects have been referred to the Public Prosecution.
Ras Al Khaima Police reiterated that counterfeiting currency of any kind, whether for possession or promotion, is a serious crime punishable by law, as it undermines the national economy and disrupts financial confidence in local and international markets.
The police urged the public to avoid falling victim to financial fraud and counterfeiting schemes, and to promptly report any suspected counterfeiting activity to the authorities.
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