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10 Dec 2014, 12:12 pm

Al Mashriq Commercial Investment Corporation and Al Mulla Atradius Insurance Consultancy and Brokerage LLC Impersonated in a Fraudulent Scam

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public to a fraudulent scam which misuses the names of Al Mashriq Commercial Investment Corporation (Al Mashriq) and Al Mulla Atradius Insurance Consultancy and Brokerage LLC (Al Mulla Atradius).Al Mashriq is a legitimate company registered with the Department of Economic Development of Dubai. Al Mulla Atradius is a legitimate company name which was registered by Atradius and the Al Mulla Business Group. Atradius is a global credit insurer based in the Netherlands. The scammers have misused the names of Al Mashriq and Al Mulla Atradius in order to legitimise a fraudulent scheme. The scammers, falsely using the name "Al Mashriq Commercial Investment Corporation" offer loans to prospective borrowers. To obtain a loan, the borrower has to:Prospective borrowers are provided with a false "Certificate of Incorporation" for Al Mashriq allegedly issued by the DFSA. The false Certificate of Incorporation can be viewed here.The scam also uses a fabricated letter of "good standing" purported to be issued by the UAE Ministry of Finance. The fabricated letter falsely indicates that Al Mulla Atradius is registered as a company by the DFSA. The fabricated letter can be viewed here.The DFSA:The documents referred to above are false, and are part of a scam commonly known as an Advanced Fee Scam. The DFSA strongly advises that you do not respond to any such offers.The DFSA has a page on its website dedicated to Alerts in relation to scams. All Alerts issued by the DFSA may be accessed by going to:Your-Resources/dfsa-alertsThe DFSA has issued warnings and guidance about the common types of scams, including Advanced Fee Scams, perpetrated on consumers. For more information on these scams, please go to:HowToAvoidBeingScammedIf you have any concerns about the authenticity of any DIFC or DFSA correspondence or documents, you should direct your concerns to the DIFC Authority on Tel: +971 4 362 2222 and to the DFSA via the DFSA Complaints function on www.dfsa.ae or via Tel:  +971 4 362 1576.

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