The Office of the Head of Government warns of a fraudulent account impersonating Prime Minister Aziz Akhannouch on X, promoting a fictitious cryptocurrency. This alert follows similar activity reported by Bank Al-Maghrib involving fake media content. Authorities emphasize the importance of relying on official communications. Additionally, Morocco’s cryptocurrency landscape is evolving despite regulatory bans, with significant user adoption reported in recent years.
The Office of the Head of Government has raised an alert regarding a fraudulent account on X (formerly Twitter) impersonating Prime Minister Aziz Akhannouch to promote a fictitious Moroccan cryptocurrency. This false account has been advertising nonexistent digital currency, which has led government officials to warn the public about the potential for scams. They have confirmed that the only legitimate account for updates from the Head of Government is @ChefGov_ma.
This warning follows an announcement by Bank Al-Maghrib (BAM), Morocco’s central bank, which reported a similar fraud case. Scammers employed fake media content that unlawfully utilized the bank’s identity and the image of its Governor, apparently leveraging artificial intelligence techniques to mislead the public. This fraudulent content promoted a false investment platform with unrealistic promises of returns.
Both the Head of Government’s office and BAM have proactively alerted the public to safeguard their communications channels. In response to these impersonation incidents, Akhannouch’s office advised citizens and social media users to enhance their vigilance regarding fraudulent accounts and to depend exclusively on information from official sources. BAM signaled its intention to take legal measures to defend its identity and rights against the misuse of its image.
These ongoing incidents highlight a rising trend of sophisticated digital fraud targeting Moroccan governmental institutions and officials. Regarding the cryptocurrency landscape in Morocco, significant milestones have been observed over recent years. In 2017, the Moroccan government enforced a complete ban on cryptocurrency transactions due to concerns over money laundering and criminal activities.
Despite the ban, by 2019, around 3.5 million Moroccans had already engaged in various digital currencies, reflecting a surge in crypto adoption. As of 2023, Morocco was ranked as the 13th highest Bitcoin-using nation globally, according to Insider Monkey’s analysis, while Chainalysis placed Morocco 20th in its global crypto index, indicating a solid foothold in the digital currency arena despite regulatory challenges.
By 2024, the number of cryptocurrency holders in Morocco had increased to 6 million, which constitutes approximately 16% of the population, as reported by HelloSafe. Furthermore, Bank Al-Maghrib Governor Abdellatif Jouahri indicated plans for a comprehensive regulatory framework to be implemented by the end of the year.
In summary, the emergence of fraudulent cryptocurrency-related activities in Morocco underscores the need for public vigilance against digital scams. Both the Head of Government and Bank Al-Maghrib are actively addressing these threats while highlighting the growing significance of cryptocurrency within the country. The development of a regulatory framework will be pivotal in ensuring the protection of citizens engaging in digital currency transactions.
Original Source: www.moroccoworldnews.com
