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21 Mar 2019, 10:03 am | Regulator or Authority Impersonation

DFSA Impersonated in a Fraudulent Scam

The Dubai Financial Service 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 use a fake document as part of the scam, to attempt to charge potential customers to set up a meeting with a legitimate DFSA Authorised Firm, which has no knowledge of the document and no connection to the scammers. The document uses the DFSA’s logo without authority and for a malicious purpose. The document is a false “Non-Circumvention, Non-Disclosure Agreement” and a copy can be found here.

The DFSA informs you that:
• it does not allow the use of its logo for Authorised Firms to enter into agreements; and
• it does not charge fees for meetings of any sort.

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