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Tue 27 Aug 2019 10:17 AM

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Dubai Police warn of counterfeit currency exchange scam

Dubai Police officials seized more than AED1 billion in counterfeit currency in 2018

Dubai Police warn of counterfeit currency exchange scam
Dubai Police said the warning was prompted by scam artists using counterfeit foreign money, which they offer to local residents at an attractive rate.

Dubai Police has warned that fraudsters purporting to be tourists are scamming residents by asking to exchange currency.

“Beware of thieves acting as tourists, who inquire about currencies and exchange,” the police force said on its official Twitter handle.

Dubai Police said the warning was prompted by scam artists using counterfeit foreign money, which they offer to local residents at an attractive rate.

To avoid the fraudsters, local residents are advised to only exchange money at authorised currency exchange firms.

In April, Dubai Police officials announced that they seized over AED1 billion in counterfeit currency in 2018.

In total, 499 cases of counterfeit bills were detected, and 471 suspects arrested.

According to Mercer’s 2019 Quality of Living Survey, Dubai and Abu Dhabi are the safest cities to live in the region, while Dubai has the best quality of living standards.

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