The State Public Prosecution clarifies the penalty for collecting money without a license in accordance with the decree of the Rumors and Cybercrime Law

Abu Dhabi, April 5 / The State Public Prosecution, through a tweet it published today on its social media accounts, clarified the penalty for collecting money without a license, as stipulated in the decree of the Rumors and Cybercrime Law.

The Public Prosecution indicated that, according to Article 41 of Federal Decree-Law No. 34 of 2021 regarding rumors and cybercrimes, he is punishable by imprisonment for a period not exceeding five years and a fine of no less than (250,000) two hundred and fifty thousand dirhams and no more than (1,000,000) million. Dirham or one of these two penalties, whoever calls or promotes a contest or electronic currency or establishes or manages a portfolio or a fictitious company with the aim of receiving or collecting funds from the public with the intention of investing, managing, employing or developing them, without a license from the concerned authorities, and the court shall rule to return the seized funds. on her.

The publication of this information comes within the framework of the State Public Prosecution’s ongoing campaign to enhance legal culture among members of society, publish all new and updated legislation in the country, and raise the level of public awareness of the law, with the aim of spreading the culture of law as a way of life.