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03 Oct 2021, 04:43 pm | Regulator or Authority Impersonation

Fake DFSA and DIFC Release of Funds and Clearance Certificates used in a Fraudulent Scam

The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public to a fraudulent scam in which the DFSA, a member of the DFSA’s senior management and the Dubai International Financial Centre (DIFC) have been impersonated. The scammers have issued fake documents purporting to be from the DFSA and the DIFC.

The fake documents consist of a “Certificate of Release of Funds” and an “International Money Laundering Clearance Certificate” which bear the name and logo of the DFSA and the DIFC, the purported stamp of the DFSA, and which were purportedly signed by the Chief Operating Officer of the DFSA.

The fake “Certificate of Release of Funds” is addressed to an individual (the beneficiary) confirming the receipt of USD 18,000 in fees and the release of the beneficiary’s frozen amount of USD 100,000.

A copy of the fake certificate can be viewed here.

The fake “International Money Laundering Clearance Certificate”, falsely claims that the amount of USD 100,000 belonging to the individual mentioned in the certificate, has been cleared of all money laundering and terrorism involvement and that the individual can receive such amount.

The DFSA informs the public that:

• The certificates are fake and have not been sent nor issued by the DFSA and or the DIFC;
• The fake certificates appear to have been produced for a fraudulent and malicious purpose;
• The name of the DFSA, and that of a senior member of its staff, have been used without the authority of the DFSA;
• The signature on the fake certificates is not the signature of the Chief Operating Officer of the DFSA; and
• The DFSA and DIFC Authority do not issue International Money Laundering Clearance Certificates for the purpose of clearing individuals from involvement in any terrorist or money laundering activities.

Please click here  to view the fake International Money Laundering Clearance Certificate.

The DFSA strongly advises that you do not respond to the perpetrators of the scam, and under no circumstances should you send or give any money to any party connected to the scam.

On 5 April 2020, the DFSA issued an alert to consumers warning about an increase in scams and other fraudulent activity since the onset of the COVID-19 pandemic.  The original alert can be viewed by going to: INCREASE IN SCAMS DURING COVID-19

The DFSA has a page on its website dedicated to alerts which it 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 Dubai International Financial Centre (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 

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