The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public to a scam in which a fake DFSA letter is used to ask victims to make a partial payment of monies allegedly owing to the DFSA. 

The DFSA would like to inform you that the letter is not issued by the DFSA and it contains the following:

• a fake DFSA letterhead in which the DFSA’s name and logo and have been used without permission;
• a subject line stating “Payment Arrangement Confirmation”;
• a fake signature without the name of the signatory;
• a statement “confirming the payment arrangement concerning your account”.  The DFSA does not open or maintain any such account;

A proposed payment arrangement is also included in the letter in which the DFSA allegedly agrees to accept:

• an initial payment of 50% of the total amount allegedly due; and
• the remaining balance of 50% is to be settled by a specific date. The DFSA does not enter into such payment arrangements;
• a false representation that the victims must sign an undertaking to make the payment; and
• a further false representation that the failure to make the payment will result in the imposition of penalties and additional interest costs.

The DFSA strongly advises you not to respond to any communications regarding this scam, and under no circumstances should you send or give any money to any party connected to the scam.

The DFSA has a page on its website dedicated to alerts which 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 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