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30 Oct 2012, 12:10 pm

Dubai Financial Investment Capital Falsely Claims to be Authorised by the DFSA

The Dubai Financial Services Authority (DFSA) alerts the community to a fraudulent scheme involving the communication of false, misleading and deceptive information by an entity purporting to be “Dubai Financial Investment Capital” operating the following website - http://www.dubaific.com/about-dfic.html The fraudulent scheme operating under the name “Dubai Financial Investment Capital” is falsely purporting to offer financial capital to businesses seeking funding.After initially approaching a business seeking funding, the fraudulent scheme seeks submission of a funding proposal from the business, which it then purports to review and approve. The fraudulent scheme then requests the payment of an advance fee (described as an advance payment of taxes) prior to the provision of funding. The fraudulent scheme falsely asserts that the advance fee is required under the DFSA’s “directives on Foreign Investment”.The DFSA does not issue such directives. The DFSA is not a taxing authority and, therefore, does not seek the advance payment of taxes.  The DFSA strongly advises members of the public not to deal with any inpidual or entity claiming to be connected to “Dubai Financial Investment Capital”.All Firms providing financial services in or form the Dubai International Financial Centre (DIFC) must first be licensed by the DFSA.  Firms licenced by the DFSA will have their particulars recorded on the Public Register of the DFSA website at http://www.dfsa.aeIf a Firm purports to offer financial services from the DIFC and is not recorded on the Public Register then you should not deal with it.The DFSA has 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 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 Tel: +971 4 3621500.

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