The Judicial Department of Abu Dhabi has urged the residents not to fall into the trap of the fake money exchange agencies which offer foreign currencies at a cheaper rate, as the small saving can bring huge financial problems and legal issues.

The ADJD, Abu Dhabi Judicial Department has spread the message through a 40 second long video shared on their official social media handle. They said, “The Abu Dhabi Judicial Department warns against falling behind fake offers to sell currencies at reduced prices, which are in fact forged or belong to suspicious sources.”

As it is a holiday time in the country, the increasing number of fraudsters, scammers, and fake money exchange houses offer foreign currencies with a discounting price and a cheaper rate, which is remarkably less as compared to the usual market rate.

ADJD also said the scammers can be found anywhere through social media. How does the whole process work? They usually post fake advertisements and links to scam people. People will get attracted to the offers and click on the link provided by the fake and unauthorized companies.

With a mastermind plan, the fraudsters take advantage of the vacation period. They promote some eye-catching sales and tempting money exchange offers to grab the attention of the customers. ADJD asked people not to get attracted to the advertisements without knowing the truth behind them.

The department also requested the public to avail services from the authorized banks and money exchange agencies available in the country with a valid license in the matter of exchanging foreign currency.

The ADJD included a statement saying, “People should avoid such ‘lucrative’ offers and refrain from exchanging money using such dubious deals.”

In most cases, the foreign currencies or the notes provided to the residents or the tourists are counterfeited, but if the currencies are not counterfeited still can land the public to face many legal proceedings and trigger financial trouble as the currencies might be sourced from many suspicious foundations.

Other Investment And Finacial Scams

A warning has been already issued in the month of June by Salik, a tollgate operator in Dubai to avoid social media advertisements where the particular company ensures to provide a higher interest in returns after investing in the company. The campaigns are mostly known as scammers and claim false statements.

The fraud activities catch the attention and target any individuals or organizational investors. The advertisement will ask to invest in Salik. The tollgate operator company has clarified saying that they have no connection with those fraudulent links or campaigns.

Salik has conveyed an important message to individuals and other businesses through their social media. They said, “We urge Salik customers to beware of fraud messages inviting them to pay fees and fines. We advise you to limit your transactions to official channels only, and to carry out payments of fees and violations through the approved channels.”

The messages have targeted UAE residents by asking them to click on a particular link shared through SMS and clear the outstanding due amount or fines. Although the attached link hasn’t triggered any virtual properties owned by Salik.

All the legal authorities in UAE, ask the residents to avoid fake social media campaigns, unsecured links, fraudulent calls, scam text messages, and emails that emulate the trade markers and other trusted organizations and websites. The trap is to copy and save many important details of the customers such as banking details, debit and credit card numbers, usernames, and passwords.