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10 Aug 2013, 12:08 pm | Regulator or Authority Impersonation

DIFC Board Member Impersonated in a Fraudulent Scam

The Dubai Financial Services Authority (DFSA) issues the following alert about a scam facilitated through the following email address:  [email protected]  Emails issued through this address falsely claim to represent Mr Hussain Al Qemzi (Mr Al Qemzi).  Mr Al Qemzi is a member of the Board of the Dubai International Financial Centre (DIFC).  The fraudulent emails offer loans in the amount of USD $50,000,000 to any interested party.  The loans are offered for ten years “renewable duration” at an annual interest rate of 6%.  Interested parties are asked to pay a fee of GBP £5,500 for facilitating the loan.  The scammers also provide false documents bearing the DIFC logo and letter head.  Examples of the false loan agreement and invoices can be viewed here.  The DFSA strongly advises you not to send money to such scams and not to respond to any such emails.The DFSA informs you that:  • Mr Al Qemzi does not communicate through Gmail, Hotmail or other such addresses;• The DIFC does not offer loans, and does not charge fees for “facilitating” loans;• The scammers have used the name of Mr Al Qemzi without authority and for a malicious purpose; and• The scammers have fashioned their documents so that they look like genuine DIFC documents for the purpose of deceiving recipients into believing that the documents are genuine.The DFSA has a page on its website dedicated to Alerts which it has issued in relation to scams. All Alerts issued by the DFSA may be accessed by going to:  Your-Resources/dfsa-alerts The DFSA has also recently issued warnings and guidance about the common types of scams perpetrated on consumers. For more information on these scams, please go to:  HowToAvoidBeingScammedIf you have any concerns about the authenticity of any DIFC or DFSA correspondence or documents, you should direct your concerns to the DIFC on Tel: +971 4 362 2222 and to the DFSA via the DFSA Complaints function on www.dfsa.ae or via telephone on +971 4 362 1576.

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