Emirates News Agency – Abu Dhabi prosecutors warn against wire fraud

ABU DHABI, 28th April, 2023 (WAM) — The Abu Dhabi Public Prosecutor’s Office has warned community members of the dangers of wire transfer fraud. The warning comes amid reports of fraudulent activity on social networks and other computerized media in which people are lured into schemes promising quick profits, attractive returns and high payouts. Plans and reality run counter to each other.

The Public Prosecution Service has urged internet and social media users to be vigilant and avoid dealing with unauthorized or unscrupulous groups who use misleading advertising and marketing techniques to induce victims to send money for fictitious financial profit.

The office emphasized the importance of ensuring that entities obtain the necessary licenses from the relevant authorities before undertaking any financial activities.

The public prosecution agency also emphasized that telecommunications fraud is a crime punishable by law. Anyone who is found to use fraudulent means, false names, or use information networks to pretend to be a wrong identity to illegally occupy movable property, interests, documents or signatures, electronic information systems, or any computer means will be punished. Faces at least one year’s imprisonment and a fine of at least AED250,000 and a maximum of AED1,000,000 (one million), or one of these two sentences.

In light of this warning, community members are advised to exercise caution and report any suspicious activity to the appropriate authorities to help combat wire fraud and protect the community from financial loss.