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08 Jun 2017, 10:06 am | Regulator or Authority Impersonation

DFSA Impersonated in a Fraudulent Scam

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public about a fraudulent scheme in which the DFSA has been impersonated.

The scammers offer potential victims an employment opportunity as an “Assistant Electrical Safety Supervisor” at the DFSA’s offices in California, United States of America.  In order to finalise the terms of the employment, the scammers tell potential victims to pay SAR 655 (USD 175) to courier the employment contract the potential victim for signature.

The scammers also send potential victims false letters and emails from a person using the name of “Mohammad Moustafa”, who claims to be the “Human Resource Manager, DFSA - Islamic Loan Finance Ltd”.

The DFSA informs you that:
• the DFSA does not employ anyone as an Assistant Electrical Safety Supervisor;
• Mohammed Moustafa is not a DFSA employee;
• there is no such company or entity “DFSA – Islamic Loan Finance Ltd”;
• the DFSA is the independent Financial Services Regulator of the Dubai International Financial Centre in the Emirate of Dubai in the United Arab Emirates;
• the DFSA does not have offices in the United States of America; and
• the scammers have fraudulently used the name of the DFSA without authority and for a malicious purpose.

The DFSA strongly advises that you do not respond to any communication regarding the scam, and under no circumstances should you send any money to any party involved in the scam.

The DFSA has a page on its website dedicated to alerts in relation to scams, including scams which misuse the name of the DFSA and/or the DIFC.  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, including Advance Fee scams, perpetrated on consumers. For more information on these scams please go to: HOW TO AVOID BEING SCAMMED

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

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