Impersonation Scams Target Moroccan Government Officials Amid Cryptocurrency Growth
The Office of the Head of Government in Morocco issued a warning about a fake X account impersonating Prime Minister Aziz Akhannouch, promoting a non-existent cryptocurrency. Following a similar fraud case reported by Bank Al-Maghrib, both institutions have urged public vigilance and will take legal action if necessary. Meanwhile, cryptocurrency use in Morocco has significantly increased, with 6 million holders by 2024, prompting the central bank to consider a regulatory framework.
On Wednesday, the Office of the Head of Government in Morocco issued a warning regarding a fraudulent X (formerly Twitter) account impersonating Prime Minister Aziz Akhannouch. This counterfeit account has been promoting an unauthorized Moroccan cryptocurrency, drawing attention to the need for public vigilance against scams. The office stressed that the only official account is @ChefGov_ma, which reports on government actions.
This fraudulent activity follows a similar case reported by Bank Al-Maghrib (BAM), Morocco’s central bank. BAM identified scammers utilizing fake media content that impersonates its identity and the image of its Governor, likely involving artificial intelligence tools. This deceptive content was promoting a nonexistent investment platform promising unrealistic returns.
Both the Head of Government’s office and BAM are actively informing the public to maintain the integrity of their communications. Akhannouch’s office has called for increased caution among citizens and social media users, advising them to obtain information exclusively from verified sources. BAM also stated it may pursue legal measures to safeguard its reputation against identity theft.
These incidents highlight the rising trend of digital fraud specifically targeting Moroccan governmental entities and officials. In terms of cryptocurrency in Morocco, significant developments have unfolded over recent years. The government prohibited cryptocurrency transactions in 2017 due to concerns related to money laundering and other criminal activities.
Despite the ban, approximately 3.5 million Moroccans had invested in cryptocurrencies by 2019, indicating a surge in digital currency adoption. By 2023, Morocco was ranked the 13th highest Bitcoin-using nation according to Insider Monkey, with Chainalysis placing it 20th in their global crypto index, showcasing steady growth despite regulatory challenges.
As of 2024, the number of Moroccan cryptocurrency holders reached 6 million, indicating that around 16% of the population is now engaged in digital currencies. Bank Al-Maghrib Governor Abdellatif Jouahri announced plans to establish a comprehensive regulatory framework by the end of the year, marking a significant step toward formalizing the cryptocurrency landscape in Morocco.
The recent impersonation incidents involving Morocco’s Prime Minister and central bank highlight a critical need for public vigilance against digital fraud. Both governmental bodies are actively taking measures to alert citizens and preserve the integrity of their communications. Concurrently, the growth of cryptocurrency in Morocco demonstrates significant public engagement in digital currencies despite regulatory challenges, emphasizing the latest developments towards a structured regulatory framework.
Original Source: www.moroccoworldnews.com
