Back to alerts
08 Jan 2012, 12:01 pm | Regulator or Authority Impersonation

DIFC Investment Bank Falsely Claims to be Authorised by the DFSA

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public to false, misleading and deceptive statements made on the following bogus websites- http://www.difc-ib.com/ae/ and www.difcbk.comThe websites fraudulently state that the DIFC Investment Bank (DIFC Bank) is a subsidiary of the Dubai International Financial Centre (DIFC) in the UK. The DIFC logo has been reproduced and used as the logo for the bogus DIFC Bank. The bogus websites also contain a statement that the DIFC Bank “obtained authorised status under the Banking Act in 1987” and is authorised and regulated by the UK Financial Conduct Authority (FCA) - registration number 204439. The website can be viewed here.The DIFC is a financial free zone, not a financial institution and does not carry on financial services activities in the UAE, the UK or at all. The DIFC Investment Bank is neither registered nor authorised by either the DIFC or the DFSA.The site and the products and services said to be offered by DIFC Bank are a scam.According to the FCA Register, which can be found online at  https://register.fca.org.uk/ , the DIFC Bank is not registered or authorised by the FCA to provide financial services in the UK. The registration number stated on the DIFC Bank website as belonging to the DIFC Bank, in fact belongs to another firm.The statements on the website are therefore false and/or misleading and deceptive. In addition, the DIFC’s name and logo are being used without authorisation.The DFSA strongly advises you not to deal with the bogus DIFC Bank or persons connected with the fraudulent websites. If you have any concerns about the authenticity of a Firm’s regulatory status you should direct your concerns to the DFSA Complaints function by accessing the complaints portal on the DFSA website or by calling the DFSA on +971 4 362 1 500.

For better web experience, please use the website in portrait mode