Warning Issued Over Fake Account Impersonating Morocco’s Prime…

Morocco’s government warns about a fraudulent X account impersonating PM Akhannouch for a fake cryptocurrency scheme. Similar scams have been reported by Bank Al-Maghrib, indicating a rise in digital fraud against government bodies. Cryptocurrency adoption in Morocco has surged, with millions investing despite earlier prohibitions. Authorities urge citizens to rely on official sources and maintain vigilance.

The Office of Morocco’s Prime Minister warned about a fraudulent X (formerly Twitter) account impersonating Prime Minister Aziz Akhannouch to promote a fake cryptocurrency. The account falsely advertised non-existent digital currency transactions, leading officials to alert citizens against potential scams. The official account for the Head of Government’s activities is @ChefGov_ma.

This warning follows a similar incident reported by Bank Al-Maghrib (BAM), the central bank, regarding scammers creating fraudulent media using the bank’s identity and its Governor’s image. They promoted a false investment platform with unrealistic promises of guaranteed returns.

Both the Prime Minister’s office and BAM are taking proactive measures to protect public interests and maintain their communication integrity. Akhannouch’s office advises citizens to stay vigilant against fake accounts and rely on official sources only. BAM has indicated it may pursue legal action against those misusing its identity.

These incidents signify an increase in sophisticated digital fraud targeting Moroccan governmental institutions. Morocco’s cryptocurrency landscape has undergone significant changes, starting with a full ban on crypto transactions in 2017 due to money laundering concerns. Despite this, by 2019, about 3.5 million Moroccans had invested in digital currencies.

Fast forward to 2023, Morocco ranked as the 13th highest Bitcoin-using nation, according to Insider Monkey’s analysis, while Chainalysis placed it 20th in its global crypto index. By 2024, the number of Moroccan cryptocurrency holders had increased to 6 million, approximately 16% of the population. BAM’s Governor Abdellatif Jouahri has plans to establish a comprehensive regulatory framework by year-end.

The emergence of fraudulent cryptocurrency schemes in Morocco highlights the need for increased vigilance among citizens regarding official communications. Despite earlier bans, there has been significant growth in cryptocurrency adoption in Morocco, indicating a complex dynamic within its regulatory landscape. Authorities are focused on enhancing public awareness to combat the rise of digital fraud targeting governmental entities.

Original Source: www.moroccoworldnews.com