Oman Reports No Cases of Counterfeit Currency Amidst Ongoing Fraudulent Schemes

Oman has not recorded any cases of counterfeit currency operation this year, but authorities are warning the public about fraudulent schemes promoting counterfeit foreign currencies through deceptive advertisements.

These scams often lure victims with offers to exchange fake foreign currencies for Omani riyals at enticing rates, according to the Royal Oman Police’s Inquiries and Criminal Investigations Department.

Brigadier Jamal Habib al Quraishi, Director General of Inquiries and Criminal Investigations, emphasized the serious nature of counterfeiting, which harms the national economy. He stated, “It undermines confidence in the financial system, contributes to inflation, and is often linked to other crimes such as fraud and money laundering.”

While the Royal Oman Police (ROP) has successfully curtailed such crimes, Brig Quraishi stressed the importance of public vigilance. “Although this type of crime is not widespread in Oman, awareness is key in preventing its spread and protecting individuals and the economy.”

He noted that during the first half of this year, no counterfeit currency operations were detected in Oman. However, fraudulent methods, such as fake advertisements offering to exchange counterfeit foreign currencies, remain a concern. These schemes often target individuals seeking quick wealth, who later realize they have been scammed.

Another tactic identified by the police involves promoting foreign currencies that are no longer in circulation. Victims are deceived into believing they are exchanging valuable currency, only to discover later that the money is worthless.

ROP’s forensic laboratory plays a crucial role in detecting counterfeit currencies. Utilizing advanced technology and specialized experts, the laboratory can identify fake national and foreign currencies with precision.

Brig Quraishi also highlighted the significance of international cooperation in combating counterfeiting. ROP collaborates closely with Interpol to monitor criminal activities, exchange information, and pursue offenders.

“This collaboration helps law enforcement agencies improve their methods for detecting and investigating counterfeit currency while providing officers with specialized training to stay ahead of emerging threats,” he added.

source: Oman Reports No Cases of Counterfeit Currency Amidst Ongoing Fraudulent Schemes (muscatdaily.com)