In the 1921 film The Haunted House, the comedy legend Buster Keaton's character is a bank employee who is wrongly accused of peddling counterfeit cash. He eventually discovers the real perpetrators' hideout with predictably farcical results.
That such scams were already being lampooned as far back as the 1920s is an indication of the longevity, and consequently the lack of originality, of one of the oldest criminal tricks in the book.
As reported in The National yesterday, a visitor from Cameroon posed as African royalty and presented Dh14.6 million in photocopied US$100 bills to swindle a potential investor, the Dubai Criminal Court of First Instance heard. To make matters worse, the investor was referred to the Cameroonian "royal" by "a friend". With friends like these.
Still, it shouldn't take a criminal pathologist to determine that photocopied bank notes won't pay the mortgage. In such situations vigilance, even outright cynicism, is advised. Anyone who offers to hand over a suitcase full of cash should, in one way or another, set alarm bells ringing.
In too many scams, the lesson that should be learnt is that easy money, whether genuine or not, is often too good to be true. Fraud is no laughing matter, but when criminals are as unoriginal as a fake African royalty, we feel confident the general public can rest safe.
Abu Dhabi GP Saturday schedule
12.30pm GP3 race (18 laps)
2pm Formula One final practice
5pm Formula One qualifying
6.40pm Formula 2 race (31 laps)
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Afghanistan squad
Gulbadin Naib (captain), Mohammad Shahzad (wicketkeeper), Noor Ali Zadran, Hazratullah Zazai, Rahmat Shah, Asghar Afghan, Hashmatullah Shahidi, Najibullah Zadran, Samiullah Shinwari, Mohammad Nabi, Rashid Khan, Dawlat Zadran, Aftab Alam, Hamid Hassan, Mujeeb Ur Rahman.
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
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Killing of Qassem Suleimani
About Seez
Company name/date started: Seez, set up in September 2015 and the app was released in August 2017
Founder/CEO name(s): Tarek Kabrit, co-founder and chief executive, and Andrew Kabrit, co-founder and chief operating officer
Based in: Dubai, with operations also in Kuwait, Saudi Arabia and Lebanon
Sector: Search engine for car buying, selling and leasing
Size: (employees/revenue): 11; undisclosed
Stage of funding: $1.8 million in seed funding; followed by another $1.5m bridge round - in the process of closing Series A
Investors: Wamda Capital, B&Y and Phoenician Funds
Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
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MATCH INFO
Uefa Champions League quarter-final, second leg (first-leg score)
Porto (0) v Liverpool (2), Wednesday, 11pm UAE
Match is on BeIN Sports
