The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public to fake documents in which both the DFSA and members of its senior management team were impersonated as part of an advance fee scam.

The scammers, posing as representatives of the DFSA, request payment of fees and charges to obtain clearance certificates which they claim are required to release the proceeds from loan disbursements. These fees are requested to be paid in Bitcoin.

The scammers utilise the following fake documents:

• invoices requesting payment to a BTC Wallet for various fees and charges associated with the issuance of a ESMA Clearance Payment;
• letters from the DFSA’s Chairman regarding the issuance of an Irrevocable Guarantee;
• letters from members of the DFSA’s Board of Directors confirming receipt of payments;
• letters form the DFSA’s General Counsel confirming the authenticity of DFSA Board Members signatures;
• copies of identification documents and business cards of fictious DFSA employees.

In an attempt to appear legitimate, the Fake Documents:

• contain the logos of the DFSA;
• use the name “DUBAI FINANCIAL SERVICES AUTHORITY”;
• include the DFSA’s actual address, telephone number and fax number; and
• provide email addresses with the domain “@dubaidfsa.com”.

The DFSA informs you that the DFSA does not:

• issue ESMA Clearance certification or any other certification to facilitate the release of funds;
• issue Irrevocable Guarantees;
• permit the use of its name, logo or stamp on any communications without its express permission;
• use email addresses with the domain “@dubaidfsa.com”; and
• request or accept payments in bitcoin or any other crypto currency.

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 is 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, DFSA or a DFSA-regulated Firm, you should direct your concerns to the DIFC on Tel: +971 4 362 2222 and to the DFSA via the DFSA Complaints function on Complaints