The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public about a fraudulent advance fee scam in which the DFSA and its Chairman are impersonated.
The scammers issue a fake letter which falsely states that it is from the “Office of the Administrator” of the DFSA. The letter also fraudulently uses the DFSA logo and contains a false signature allegedly of the DFSA’s Chairman. A legitimate UAE bank and two legitimate UAE government entities are also purportedly “CCed” on the fake letter.
The fake letter states that a “remittance as beneficiary” is due to be paid. However, before this remittance can be paid, the alleged beneficiary must pay a fee of USD1,273 for the “registration of funds” to the DFSA. A copy of the letter can be found here.
In an attempt to authenticate the scam, the scammers also fraudulently use the following without authority:
The DFSA informs you that the letter is false. The DFSA also informs you that:
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 Dubai International Financial Centre (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
For better web experience, please use the website in portrait mode