The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public to a scam in which the DFSA and a legitimate DFSA Authorised Firm (the Firm) have been impersonated.

The scammers have set up:

• fraudulent websites – www.safacapitalltd.com and safacapltd.com (both are no longer accessible);
• false email addresses purporting to belong to the Firm – [email protected] and [email protected]; and
• a false trading platform with the address – webtrader.safacapitalltd.online.

The scammers use the Firm’s name, DIFC address and DFSA Firm number fraudulently and without permission.  The scammers also use the Firm’s name without permission in the Terms & Conditions available on the fraudulent websites.

In an attempt to appear legitimate, the scammers have also impersonated the DFSA by fraudulently using:

• a fake email address purporting to be of the DFSA; namely, [email protected]; and
• a false DFSA digital seal without permission.

The DFSA informs you that:

• the email address “[email protected]” is fake;
• the DFSA does not ask for advance fees from investors in respect of investments with Authorised Firms; and
• the websites, email addresses and trading platform above purporting to belong to the Firm are fraudulent.

The DFSA strongly advises you not to respond to any communications regarding this scam, and under no circumstances should you send or give any money to any party connected to the scam.

The DFSA has a page on its website dedicated to alerts which it has issued about scams. All alerts issued by the DFSA may be accessed by going to 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 via the DFSA Complaints function on Complaints