Muscat: Brigadier Jamal bin Habib Al-Quraishi, Director General of Investigations and Criminal Investigations at the Royal Oman Police (ROP), emphasized that while currency counterfeiting remains at normal levels and is not a significant cause for concern, it is essential to highlight the risks posed by this crime and the ripple effect it can have on the economy. He emphasized that counterfeiting currency undermines confidence in the financial system and can lead to inflation and other crimes, such as fraud and money laundering.

Despite no reported cases of counterfeit currency operations in Oman during the first half of this year, Brigadier Al-Quraishi warned that fraudulent schemes promoting counterfeit currency through fake commercial advertisements remain a common issue. These scams often lure victims with the promise of exchanging counterfeit foreign currencies for Omani riyals at attractive rates, leaving individuals defrauded when they realize the scam.

The ROP also identified another criminal method involving exchanging foreign currencies that are not counterfeit but have been suspended in their countries of origin, tricking victims into accepting worthless money. Brigadier Al-Quraishi highlighted the importance of vigilance when dealing with untrustworthy parties offering enticing exchange deals.

In terms of detection, Oman’s forensic experts utilize cutting-edge technology to identify counterfeit currencies, aided by sophisticated security features embedded in official documents like passports and paper currency. The ROP collaborates closely with international organizations such as Interpol to track global counterfeit operations, sharing information and expertise.

Omani law also takes a tough stance on currency counterfeiting. Article 175 of the Penal Code imposes prison sentences for those caught counterfeiting or promoting counterfeit currency, with stiffer penalties if such crimes result in market disruptions or currency devaluation. “Anyone who counterfeits, forges, or falsifies in any way a paper or metal currency legally circulating in the country or in another country, or counterfeits national public bonds or promotes any of them with knowledge of that, shall be punished by imprisonment for a period of not less than 5 years and not more than 15 years,” he stated.

The ROP has launched extensive awareness campaigns to educate the public about currency counterfeiting, using lectures, social media, and media programs.