The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public to a scam in which the DFSA was impersonated.

The scammer has used a fake DFSA employee ID, inviting people to invest with various crypto-currency brokers which the scammer claimed to be DFSA regulated. The fake employee ID claimed that the scammer is a “Financial Crime Specialist” at the “Financial Crime Division” at the DFSA – both of which, do not exist. A copy of the fake DFSA employee ID can be found here.

To appear legitimate, the scammer has:

• used the DFSA’s name as the employer on the fake employee ID;
• used a photo of the DFSA’s name and logo as the employer on the fake employee ID;
• used a fake stamp, which included the DFSA’s name and logo, on the fake DFSA employee ID; and
• claimed that certain crypto-currency brokers, which it invited the public to invest with, were DFSA regulated.

The DFSA informs you that the:

• DFSA is the regulator of Financial Services in the Dubai International Financial Centre.
• DFSA does not invite members of the public to invest with companies which it regulates;
• DFSA does not permit the use of its name, logo or stamp on any communications without its express permission; and
• DFSA does not regulate certain crypto-currency brokers referred to by the scammer.

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