The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public to a scam where an Authorised Firm, Bemo Investment Firm Ltd, has been impersonated.
Using WhatsApp and phone numbers registered in the United Kingdom and Canada, the scammers purport to be representatives of Bemo Investment Firm Ltd to convince victims to make fictitious investments. They later refuse to return funds to victims unless additional funds are paid to cover necessary fees, claiming to be unable to use funds held on account, and other practices consistent with that of an advance fee scam.
The scammers have also established a fake website (“www.bemoinvestmentfirmltd.vip”), referencing the Dubai International Financial Centre (DIFC) address of the genuine Bemo Investment Firm Ltd.
The DFSA informs you that:
The DFSA strongly advises you not to respond to any communications regarding this scam, and you should not send or give any money to any party connected to the scam under any circumstances.
The DFSA has a page on its website dedicated to alerts which it has issued about scams. All clarifications and alerts issued by the DFSA may be accessed here: Alerts.
The DFSA has also issued warnings and guidance about the common types of scams perpetrated on consumers. For more information on these scams, please go to: How to avoid being scammed.
The DFSA encourages consumers to refer to the list of regulated Firms and Authorised Individuals licensed by the DFSA that is available on the DFSA's Public Register.
If you have any concerns about the authenticity of any correspondence or documents that purport to be issued by the DIFC Authority, DFSA or a DFSA-regulated firm, you should direct your concerns to the DIFC Authority on Tel: +971 4 362 2222 and to the DFSA through the DFSA Complaints function.
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