The Abu Dhabi Public Prosecutor’s Office has alerted residents on Friday about the dangers of wire fraud amidst reports of fraudulent activity on social networks and other digital mediums.
Such activities lure individuals into schemes promising quick profits, attractive returns, and high rewards contrary to the truth.
According to the Public Prosecution, wire fraud is a punishable offence under the law and anyone caught violating it will face imprisonment of at least one year or a fine of at least AED250,000, and up to AED1,000,000.
Abu Dhabi Public Prosecution Warns of Wire Fraud Aimed at Siphoning off Funds with Promises of Imaginary Profits, Following an Advertisement Posted on Social Media pic.twitter.com/UL4FeTlehk
— دائرة القضاء-أبوظبي (@ADJD_Official) April 28, 2023
Violation of this law includes the following: 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.
The office has urged internet and social media users to be vigilant and avoid dealing with unauthorized or unscrupulous parties who use misleading advertising and marketing techniques to entice their victims to wire money for imaginary financial profits.
Residents are also warned that before conducting any transaction or financial activity, they should ensure first that these entities have the necessary licenses from relevant authorities.
