ABU DHABI - The Abu Dhabi Public Prosecutor's Office has warned community members about the dangers of wire fraud. The warning comes amidst reports of fraudulent activity on social networks and other computerised mediums, where individuals are lured into schemes promising quick profits, attractive returns, and high rewards contrary to the truth.
The Public Prosecution has urged internet and social media users to be vigilant and avoid dealing with unauthorised or unscrupulous parties who use misleading advertising and marketing techniques to entice their victims to wire money for imaginary financial profits.
The office emphasised the importance of ensuring that entities have the necessary licenses from relevant authorities before conducting any financial activities.
The Public Prosecution has also stressed that wire fraud is a punishable offence under the law, and anyone found 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, will face imprisonment of at least one year and a fine of at least AED250,000, and up to 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 activities to the relevant authorities to help combat wire fraud and protect the community from financial losses.