06 September 2023

Josleen Deeb

Following many cases reported by the police and the Abu Dhabi Judicial Department, it is clear that counterfeit foreign currencies are being sold online via a wild usage of the social networks. In this article we raise your awareness so that avoid to be hooked to delusional promises.  


Dubai: Social Media is considered as a great tool to expand your brand, however it is also used by individuals and organizations to attract innocent people. One of these ways is selling fake foreign currencies online at “cheaper rates”. There are two categories of scams. 

·        The first category includes selling fake currencies in exchange of real cash notes 

·       The second category use real money, however the source of this real money is apprehensive it includes an offer more commonly known as “Black Money Scam” which promises you a fatty percentage once the notes are clean from their marks.

If you want to purchase foreign currencies, you will definitely search for the rates on the internet; the easiest option is to search for conversion rate and have an indication for a certain currency pair

However, you might come across an Advertisement that will offer you a major discount on the conversion rates. Stay Alert! This is a full-fledged SCAM.  If the offer is too good to be true, it probably is! Now once you hit the button on that ad, you are redirected to fill in your name and contact number, after which they will contact you, asking you to meet in some place (not an office) and provided you accepted the transaction and received the “CURRENCIES” it is already too late, once you come to understand that these are FAKE. We advise you to avoid pressing on these types of ads especially when you have an indication of the currency paid you wish to exchange, and if yet not convinced, you should be at the time they offered to meet in some random place.


You should immediately report the incident to the local police, give the number they called from and most probably help catching these thieves by all means.

The other scams are far more dangerous as it is a full-fledged crime!

These cons may, by some dubious ways, be able to convince you of a great deal whereby you will be invited to visit some premises, where actually you will test one chunk of money of that currency you are searching for and you will be requested/allowed to use whatever detector you may have.

The notes may be real, but you will see it marked and then they will try to convince you to buy certain types of chemicals, which will remove these marks then you will be able to use it. Obviously they will give you more than half of the total amount available.

Stay alert and raise the red flag immediately!


Given all the above, refuse categorically to deal with any suspicious offering and immediately report to the police, give accurate description of the phone contact number, individuals you met with, their faces, the place, the surroundings, the voices, all what you have noticed, their gender, their age bracket, their nationality, etc…


As a final thought, if you need to purchase foreign currencies for whatsoever reason, we urge you to head to any registered exchange house in the UAE, bargain and buy from there. Do not fall a victim of lack of knowledge as the law does not cover ignorance.

Stay Safe by solely engaging with licensed institutions!


Our team frequently provides legal assistance and advice on criminal cases and has previously on several similar cases. In the event you believe you have been ripped off your money or you became a victim of a similar case, let us know we will be happy to assist. 

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