According to the Abu Dhabi Judiciary, scammers are using social media to offer people fake currency exchange offers during the holiday season.
According to the Abu Dhabi Judicial Department, people should go to authorised exchange houses or banks when exchanging foreign currency in the UAE.
There is a theory that scammers will use social media to post false advertisements and deceive others with false exchange rates to defraud people out of money.
Although if residents and tourists are able to successfully exchange for genuine banknotes, there may still be doubts about the origin of these banknotes, which may cause more trouble.
Last week, the Central Bank of the United Arab Emirates (CBUAE) fined a currency exchange house, which it has not yet named, Dh480 million for alleged money laundering and financing of terrorism.
