The Moroccan government has warned of a fake X account impersonating Prime Minister Aziz Akhannouch to promote a bogus cryptocurrency. This follows a similar case reported by Bank Al-Maghrib involving fraudulent use of its identity. Both entities urge citizens to exercise caution regarding fake accounts and have committed to protecting their official communications. The country’s cryptocurrency landscape has evolved, showing significant adoption despite past regulatory restrictions.
On Wednesday, the Office of the Head of Government alerted the public regarding a fraudulent account impersonating Prime Minister Aziz Akhannouch on X (formerly Twitter). This counterfeit account has been promoting a non-existent Moroccan cryptocurrency, prompting officials to caution citizens to prevent potential scams. The office emphasized the official account for updates is @ChefGov_ma.
This warning followed another incident reported a day earlier by Bank Al-Maghrib (BAM), Morocco’s central bank. BAM indicated that scammers created fraudulent media content using its identity and the image of its Governor, utilizing artificial intelligence. The deceitful material advertised a fake investment platform with enticing promises of guaranteed returns.
Both the Head of Government’s office and BAM have acted promptly to notify the public and safeguard the integrity of their official channels. In response to the impersonation efforts, Akhannouch’s office advised citizens to remain vigilant against fake accounts and rely solely on verified sources for information. BAM also reserved the right to take legal action to protect its identity from such fraudulent activities.
These incidents highlight a growing trend of sophisticated digital fraud targeting Moroccan government entities and officials, raising concerns about cybersecurity.
Morocco’s stance on cryptocurrency has evolved significantly over the years. In 2017, the government imposed a complete ban on cryptocurrency transactions, primarily citing concerns related to money laundering. However, by 2019, it was estimated that approximately 3.5 million Moroccans had engaged in various digital currencies despite this ban.
By 2023, Morocco had emerged as the 13th highest country for Bitcoin usage globally, according to analysis by Insider Monkey. Additionally, Chainalysis positioned Morocco 20th in its global crypto index, indicating an emerging presence in the digital currency market despite regulatory challenges.
As of 2024, the number of Moroccan cryptocurrency holders reached 6 million, representing around 16% of the population, per data from HelloSafe. Furthermore, Bank Al-Maghrib Governor Abdellatif Jouahri announced plans to establish a comprehensive regulatory framework by the end of the year.
In conclusion, the recent impersonation scams targeting the Moroccan Head of Government and Bank Al-Maghrib signify a troubling rise in digital fraud efforts. As cryptocurrency adoption continues to grow in Morocco, officials are emphasizing the importance of vigilance against fraudulent accounts and misinformation. With significant numbers of citizens now engaging in digital currencies, a clear regulatory framework is increasingly necessary to ensure consumer protection and financial integrity.
Original Source: www.moroccoworldnews.com
