Fake currency worth $900m seized in Dubai

Dubai Customs inspectors at Cargo Village have foiled 18 attempts to smuggle forged cheques, banknotes with a face value of more than $900m in the first 10 months of 2012.

It said the items were found hidden in shipments arriving in the UAE from African, Asian and European countries.

Ahmed Lahej, director of Air Customs Centres at Dubai Customs, revealed that the seizures included 5,357 cheques in different denominations with a total value of $885m, EUR2m and AED14m.

The seizure also contained 473 counterfeited tourist cheques with a face value of $461.000, fake credit cards, and forged banknotes.

Lahej said the currency scams "attempted to cause harm to individuals, companies and commercial stores".

He warned that the use of fake cheques will not only harm individuals but "their negative impacts will also cause downturns in business transactions and impinges overall spheres of economy and community".