Ras Al-Khaimah Police have seized AED27.5 million ($7.5 million) in counterfeit currency after receiving a tip-off that it was going to be distributed into circulation.
The General Command of Ras Al-Khaimah Police, in cooperation with the General Directorate of Criminal Security, arrested three people of Arab nationality, on the charge of possession of a counterfeit foreign currency with the intention of promoting and circulating it.
A criminal investigations department team, with the help of secret sources, was formed to investigate the premises where the fraudulent notes were seized. More bogus bank notes were subsequently.
Ras Al-Khaimah Police confirmed that engaging in the counterfeiting of currency in all its forms is a serious crime punishable by law as it touches the national economy, disturbs financial confidence in internal and external financial markets.
UAE calls for tolerance and peace at UNSC Debate
Special Envoy of Minister of Foreign Affairs congratulates Palau President
UAE expresses solidarity with Turkey following hotel fire
MBRGI pledges AED 36.7 million in support of UNHCR projects
