Imprisonment and a fine of up to one million dirhams is a penalty for financial fraud in the UAE
Lawyers in the Emirates have warned all citizens and residents of the country that imprisonment and a fine of up to one million dirhams are the punishment for financial fraud in the Emirates, as recently, in conjunction with the spread of smart phones and technological development, fraud operations targeting all segments of society have also spread, and the method of fraud is chosen in accordance with With the goals of each class.
In the United Arab Emirates, the punishment for committing financial fraud is a prison sentence and a fine of up to one million dirhams.
As of late, in conjunction with the spread of smart phones and technological development, fraud operations targeting all segments of society have also spread, and the method of fraud is chosen in accordance with the goals of each class. Legal professionals in the Emirates have issued a warning to all citizens and residents of the country that the punishment for financial fraud in the Emirates is imprisonment and a fine of up to one million dirhams.
Punishment for financial fraud in the UAE
In the UAE, the penalty for committing financial fraud is severe, In addition, the legal advisor and lawyer, Asawer Al-Mansouri, confirmed that the legal texts are on the lookout for anyone who engages in fraudulent practices, as they keep pace with these actions that fraudsters invent to inflict victims, through the Federal Law No. 34 of 2021 regarding combating rumors and cybercrimes, Article (40), which concerns the dissemination of false information. This law was enacted in order to combat rumors and cybercrimes. Anyone who unlawfully seizes for themselves or for another person a movable property or a benefit or a document or a signature thereof shall be punished with imprisonment for a period of not less than one year and a fine of not less than 250 thousand dirhams and not more than one million dirhams, or either one of the two penalties, in the context of electronic fraud. This provision stipulates that anyone who commits electronic fraud shall be punished with one of the two penalties. By employing any fraudulent method, by taking a false name, or by impersonating an erroneous capacity via the information network, an electronic information system, or any other methods provided by information technology, the bond can be created.
UAE Police warns of fraud on social media
The UAE Police have issued a warning on fraud on social media, For its part, the Fujairah Police General Command stated that community members should be wary of social media advertisements, and verify the source of the messages they receive and the people who send them, so that they do not become victims of good suspicion. This is especially important in light of the fact that electronic crimes are increasing at remarkable rates as a result of the development of technological advancement. Additionally, the command stated that forms of crime in our time have begun to transform from the traditional type to a more complex type, and that this is because Therefore, people of society need to be encouraged to refrain from giving any of their personal banking information, even to organizations with which they do banking or have credit card accounts. It has been shown that there is a risk involved in disclosing private and confidential information to an unknown person. It is required that he be contacted through any means of communication and through communication of a variety of types, particularly when it comes to the provision of significant information and data, but only after the identity of the person or entity being contacted and its official competence have been verified.