UAE: Gang with $7.5 million in fake currency arrested in Ras Al Khaimah

Ras Al Khaimah: Police in Ras Al Khaimah have arrested a gang in possession of fake currency worth $7.5 million.

The three Arab suspects were apprehended in cooperation with the Federal Criminal Police Headquarters/Federal Investigation Division of the Ministry of Interior.

They are accused of possessing counterfeit foreign currency with the intent to promote it. The arrest followed a tip-off revealing that a businessman in Ras Al Khaimah, along with two accomplices, planned to distribute counterfeit foreign currency to gain illicit wealth.

An anti-economic crimes task force was immediately formed by the Criminal and Investigation Department of Ras Al Khaimah Police. With the assistance of confidential informants, the gang was arrested with samples of the counterfeit currency in their possession. A search of their residences led to the discovery of $7.5 million in counterfeit foreign currency. Legal action has been taken against the suspects, and they have been referred to the Public Prosecution.

Ras Al Khaimah Police emphasised that involvement in currency counterfeiting for possession or promotion purposes constitutes a serious crime punishable by law, as it impacts the national economy and undermines financial trust in domestic and international markets. The police urged community members to promptly report any suspected counterfeiting activities to the authorities to ensure swift action against perpetrators. This enhances public security, supports economic sustainability, and fosters progress and development in the country, police said.