UAE: Scammers are exploiting vacation season to sell currencies at discounts, authority warns


The Abu Dhabi Judicial Department has warned the public against falling prey to those who offer foreign currencies at discounted rates.

As it’s time for holidays, scammers are out on social media networks, offering foreign currencies at rates cheaper than the market rates, the department said. However, the currencies being offered by such scammers could be counterfeit, the department warned in a video posted on its social media accounts. The foreign currency notes, even if they are not counterfeits, could land the people handling it in legal trouble as they could be sourced from dubious origins.

Scammers take advantage of vacation time to promote the sale of such currencies through social media platforms, presenting tempting exchange offers for customers. The department urged the public not to fall for these deceptive advertisements and offers.

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It also advised people to engage with licensed institutions and exchange companies to avoid legal consequences.


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