Abu Dhabi Public Prosecution Warns of Wire Fraud Aimed at Siphoning off Funds with Promises of Imaginary Profits

The Abu Dhabi Public Prosecutor’s Office has warned community members of the risks of wire fraud should they be lured into new methods of defrauding funds by promising quick profits, attractive returns and high rewards that run counter to the truth, through misleading advertising using computerised mediums.

In this context, the Public Prosecution called on social network and internet users to be vigilant and avoid dealing with unauthorised or shady parties who use fraudulent methods through advertising and marketing via multiple social networks, to lure their victims and persuade them to wire their money for imaginary financial benefits and profits in record time.

The Public Prosecution also urged the community members to ensure that the entities they deal with have the necessary licenses issued by the relevant authorities in the country to conduct financial activities before dealing with them.

It explained that wire fraud is a crime punishable by law, and exposes its perpetrators to prosecution, stating that anyone who unlawfully appropriates for himself or herself or for others a movable asset, a benefit, a document, or the signature of such a document, by using any fraudulent means, by adopting a false name or by assuming an erroneous capacity by means of the information network, an electronic information system or any computer means, shall be punishable by a prison sentence of at least one year and a fine of at least 250,000 (two hundred and fifty thousand) dirhams and at most 1,000,000 (one million) dirhams, or one of these two sentences.