The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public to a scam involving a fake DFSA Licence (Fake Licence).

The Fake Licence is titled “License to Carry Out Regulated Activities” and falsely states that an individual is an “Independent Stock Expert” authorised and regulated by the DFSA to “provide investment brokerage services”.

In an attempt to appear legitimate, the Fake Licence:

• contains the DFSA logo and digital seal, both used without permission;
• features a false “DFSA” and “Dubai Financial Services Authority” watermark;
• displays a false licence number; and
• purports to be signed by the “Chief Regulatory Officer”.

The DFSA informs you that this Fake Licence has not been issued by the DFSA, and further informs you that:

• “Chief Regulatory Officer” is not a legitimate DFSA position;
• the signature on the Fake Licence is fake; and
• the DFSA does not issue “Licenses to Carry Out Regulated Activities” to individuals, nor does it authorise individuals to “provide investment brokerage services”.

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 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 DIFC Authority, DFSA or a DFSA regulated Firm, you should direct your concerns to the DIFC Authority on Tel: +971 4 362 2222 and to the DFSA via the DFSA Complaints function on Complaints.