DFSA | THE INDEPENDENT REGULATOR OF FINANCIAL SERVICES

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26 Mar 2012, 12:03 pm

DIFC Individual Impersonated in a Fraudulent Scam

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public to a fraudulent e-mail scam facilitated through the e-mail address below:[email protected] e-mail claims to represent His Excellency Abdullah Mohammed Saleh, Governor of the Dubai International Financial Centre (DIFC).The scam e-mail offers access to loan funds in the amount of AED3.5 million at an interest rate of 3.5% per annum, which may appear attractive to inpiduals seeking finance. The e-mail falsely advises unsuspecting consumers that the DIFC provides loans for procuring investments projects subject to fulfilling the following requirements:• providing a project report or a feasibility study;• incorporating the business in the Ajman free-zone;• obtaining a “General Licence Certificate” from the Chamber of Commerce;• signing a Memorandum of Understanding (MoU) with the DIFC; and• paying application fees. The e-mails referred to above are linked to organised fraud. The DFSA strongly advises that you do not respond to any such invitations, and under no circumstances should you send the originator any money.The DFSA informs you that:• the MoU is a false document which has been used by the scammers to legitimise the fraudulent activity. An example of the false MoU bearing the DIFC logo and letterhead can be viewed here;• neither the DIFC nor the DFSA communicates through e-mail addresses with the domain name “boardmemberdifc.org”;• the DIFC is a 110 acre free-zone located within the city of Dubai and is not a financial institution; and• the DIFC does not provide access to lines of credit, charge fees for accessing funds, or require inpiduals or companies to be licensed or registered with any free- zone in the UAE other than the DIFC.If 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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