Fake currency worth $900m seized in Dubai

Some of the forged banknotes seized by Dubai Customs.

Some of the forged banknotes seized by Dubai Customs.

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".

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudis tighten their belts for Eid in age of austerity

Saudis tighten their belts for Eid in age of austerity

Gov't cuts, which began late in 2015, are now rippling through...

New Saudi snow city tests kingdom's capacity for fun

New Saudi snow city tests kingdom's capacity for fun

Mixed-gender attraction is a rare opportunity for Saudis of all...

Retail renaissance in Saudi Arabia

Retail renaissance in Saudi Arabia

The largest economy in the GCC is emerging as a lucrative retail...

Most Discussed
sponsoredTracking