In the UAE, crypto scammers will be jailed
The law imposes severe penalties for publishing and disseminating fake news
26.12.2021 - 07:40
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What’s new? As of January 2, a new law comes into force in the UAE that provides penalties of up to 5 years in jail for crypto fraud. The criminals can also be fined up to 1 AED million (about $270 000), The National agency reports. The law will apply to those who advertise fraudulent companies.
What are the details of the new law? The cybercrime law is part of the Emirates' first legal reform and includes over 40 points. The new law also penalizes the spreading of rumors and fake news. For impersonating another person using a fake account faces imprisonment. This law aims to ensure security on the Internet. This has become particularly relevant following the widespread proliferation of cryptocurrency and an increase in cybercrime.
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