Financial Frauds
Financial Frauds, cheating, and theft are crimes, and although they are related to assaulting money, the difference between them is that obtaining money in the crime of fraud takes place under the influence of the fraudulent methods committed by the perpetrator that pushes the victim to hand it over to him.
As for the crime of theft, money is taken from the possession of the victim without his consent and the intention of owning it
Seizing the money of others in the UAE Law:
- The penalty for the attempt is imprisonment for two years or a fine not exceeding twenty thousand dirhams
- This information is being released as part of the Public Prosecution’s campaign to improve the legal culture among members of society and to increase public awareness of the law
- This is a normal phenomenon where a small percentage of the economy involves a lot of investment and is managed by large economic entities and financial institutions.
- This leads to higher rates of criminal activity, especially crimes that appear normal in terms of business transactions
Using a False name or description:
- Enter false information when registering property or bank money, hoping that it will not be discovered and will not be held liable
- False imitation of doing something someone else has already done
- These actions are not only deceptive but also known as 3rd party tools that support scam
Conclusion
Before any treatment or transaction involving money or property can take place, the parties must check each other’s powers, legal rights, and other attributes. This is just a basic check to make sure that both sides believe the other is who they say they are
For a legal consultancy, related to financial fraud cases or other kinds of cases in UAE you can “ASK LAWER” for a consultation
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