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Two men identified as Charles Nteziryayo, 40, and Gregoire Mugiraneza, 34, were arrested on Tuesday, November 10, in Huye District attempting to scam a local resident with papers.
The duo was trying to seduce the would-be victim and make him believe that they had US$20,000, and would give it to him at a lower exchange rate.
Superintendent of Police (SP) Theobald Kanamugire said that the two suspects approached the man as he came out of a bank in Huye town with a large sum of money.
“Nteziryayo and Mugiraneza stopped the would-be victim as he came out of the bank with a bug sum of money, told him that they had US$20,000 which they wanted to exchange at a rate as low as FRW600. They showed him a bundle of 100 dollar notes in the denominations of US$1 and another sealed envelope which they said contained more dollar bills,” SP Kanamugire said.
The low exchange rate propelled the would-be victim to call the Police on suspicion that these were fraudsters, the spokesperson said.
“When Police officers arrested them, they found that the sealed envelope contained three exercise books, which they folded in form of money bills. The two suspects were handed over to Rwanda Investigation Bureau (RIB) at Ngoma station,” SP Kanamugire said.
Normally, scammers camp outside financial institutions or trace and trail their targets. They seduce you with lower exchange rates. Their genuine dollar bills are in most cases in the denominations of US$1 covered with a bill of US$100 on either side. The target would think that the whole bundle contains US$100 bills.
In other cases, they cut papers in form and size of money, which they cover with genuine bills.
SP Kanamugire urged the public to be vigilant, exchange money at licensed forex bureaus and report such individuals, who apply such tricks to scam unwitting members of the public.
Fraud, under article 174 of the law determining offences and penalties in general in Rwanda, attracts a term of imprisonment of between two and three years, and a fine of not less than FRW3 million but not more than FRW5 million, upon conviction.
