The ‘black dollar’ scam: How painted bills are tricking victims in Lebanon

Report by Raneem Bou Khzam, English adaptation by Karine Keuchkerian

This scam involves painting U.S. dollar bills black to deceive victims into believing they are real but disguised for smuggling — a long-running fraud commonly referred to as the “black dollar” scheme. 

Despite repeated awareness campaigns, people continue to fall victim to gangs promising enormous profits.

For more than two decades, these groups have targeted Lebanese citizens, as well as Arabs and foreigners. Scammers claim the blackened bills are real dollars coated in black that can be removed and promise to return double the money they receive.

For example, for every $1 million you give them, they promise to return $2 million.

Victims take the stack of black bills, only to later discover it is nothing more than worthless paper — and the gang has vanished.

Sources told LBCI that from 2011 to the present, the Internal Security Forces have arrested 30 gangs involved in this scheme. The actual number of cases is likely higher, as many victims do not report being defrauded.

Authorities say the most effective protection remains awareness — avoiding such offers and reporting anyone attempting to carry out this type of scam.