The Office of the Head of Government has alerted citizens about a fraudulent X account impersonating Prime Minister Aziz Akhannouch to promote a non-existent cryptocurrency. A similar case was reported by Bank Al-Maghrib involving fraudulent use of its identity. These incidents highlight the rising trend of digital fraud targeting Moroccan institutions, amidst a growing cryptocurrency adoption in the country despite regulatory challenges.
The Office of the Head of Government has issued a warning concerning a fraudulent account on X (formerly Twitter) that has been impersonating Prime Minister Aziz Akhannouch to promote a fictitious Moroccan cryptocurrency. This account has been spreading false advertisements regarding non-existent digital currency transactions, prompting officials to alert citizens about potential scams. The government confirmed that the sole official account providing updates is @ChefGov_ma.
The warning comes shortly after Bank Al-Maghrib (BAM), the central bank of Morocco, disclosed a related fraud case wherein scammers produced fake media content that misused BAM’s identity and the image of its Governor, reportedly utilizing artificial intelligence technology. This counterfeit material advertised a fraudulent investment platform promising guaranteed returns.
Both the Head of Government’s office and Bank Al-Maghrib have acted promptly to inform the public and uphold the integrity of their official communication channels. Prime Minister Akhannouch’s office has urged citizens to remain vigilant against fake accounts and to depend exclusively on information from official sources. BAM has expressed its intent to pursue any necessary legal actions to defend its image against the fraudulent use of its identity.
These incidents illustrate a troubling rise in sophisticated digital fraud attempts targeting Moroccan government institutions and officials. On the topic of cryptocurrency, Morocco has witnessed significant developments in recent years. A strict ban on cryptocurrency transactions was imposed in 2017 due to concerns over money laundering and other criminal activities.
Despite the ban, by 2019, roughly 3.5 million Moroccans had reportedly invested in various digital currencies, initiating a notable increase in cryptocurrency adoption within the country. As of 2023, Morocco has emerged as the 13th highest Bitcoin-using nation globally, as per an analysis by Insider Monkey.
Additionally, Chainalysis ranks Morocco as 20th in its global crypto index, illustrating the country’s growing presence in the digital currency arena despite regulatory challenges. By 2024, the number of Moroccans holding cryptocurrency reached approximately 6 million, which constitutes around 16% of the population, with Bank Al-Maghrib Governor Abdellatif Jouahri announcing plans to establish a comprehensive regulatory framework by the end of the year.
The emergence of fraudulent activities targeting Moroccan officials highlights the pressing need for public awareness and vigilance regarding digital scams. Despite regulatory hurdles, Morocco’s cryptocurrency landscape continues to evolve, with a notable increase in adoption and a commitment to establishing a regulatory framework. The proactive measures taken by government institutions are vital in maintaining trust and integrity in official communications.
Original Source: www.moroccoworldnews.com
