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27 May 2015, 12:05 pm | 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 to a scam involving the fraudulent use of the DFSA's name; The perpetrators of the scam use the name "Glade for Best Services FZE", and make offers to consumers claiming that they have funds available for investment in businesses and companies.  Once consumers respond to the offer, the perpetrators falsely state that a number of fees and charges have to be paid so that the funds can be released. The fees which the perpetrators falsely claim are required to be paid include "release fees", "liquidation charges" and "authorisation fees".In an attempt to authenticate the scam, the perpetrators of the scam:One of the false fees charged by the perpetrators of the scam is a DFSA "Authorisation Charge". The perpetrators falsely claim that the DFSA's authorisation is required before the funds can be released, and that the "Authorisation Charge" is the fee which the DFSA charges to provide its authorisation.A copy of the false document which refers to the DFSA "Authorisation Charge" can be viewed here.The DFSA informs you that the:The DFSA strongly advises that you do not communicate with the perpetrators of the scam, and under no circumstances should you send any money to them.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 at Your-Resources/dfsa-alertsThe 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 HowToAvoidBeingScammed    If you have any concerns about the authenticity of any DIFC Authority or DFSA correspondence or documents, 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 www.dfsa.ae

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