Three Arab nationals were taken into custody for having fake foreign currency that they planned to use for transactions within the United Arab Emirates. The total amount of money seized was $7.5 million (Dh27.5 million). Following a tip from a source that indicated a businessman in Ras Al Khaimah was preparing to distribute the counterfeit currency with the assistance of two accomplices, the arrests were made.
As soon as possible, a dedicated task team was established to look into the tip and deal with the matter. Samples of the counterfeit cash and the group were apprehended during undercover operations. During a follow-up search of their homes, more counterfeit currency was found.
The Public Prosecution has been tasked with investigating the suspects, and legal proceedings have begun.
Ras Al Khaima Police reaffirmed that counterfeiting any form of currency, whether for personal use or for commercial purposes, is a serious offence that carries legal penalties because it damages the country’s economy and erodes trust in local and foreign markets. The police advised the public to report any suspected counterfeiting activities to the authorities right away and to prevent becoming victims of financial fraud and counterfeiting operations.
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