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

The scammers falsely claim that a firm called Emirati Global Markets (EGM) is licensed and authorised by the DFSA.

The DFSA informs you that EGM is not registered in the DIFC, and it is not, and has never been, authorised by the DFSA. 

In an attempt to appear legitimate, the scammers use a fake licence document (the Fake Licence).

The Fake Licence:

• is headed “Dubai Financial Services Authority” with the sub-heading “LICENCE”;
• falsely claims that EGM’s “License number is “F006321” – a licence number which actually belongs to a legitimate DFSA Authorised Firm with no connection to EGM;
• lists its address as “Unit 08, Level 17, Liberty House…”, which also belongs to the legitimate DFSA Authorised Firm; and
• contains a fake DFSA stamp and the name Christopher Calabia, a former DFSA Chief Executive.

The DFSA informs you that:

• the licence document is fake;
• the licence number and address on the Fake Licence do not belong to EGM, but to another legitimate DFSA Authorised Firm;
• the stamp appearing on the Fake Licence is not, and have never been, used by the DFSA.

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 on Tel: +971 4 362 2222 and to the DFSA via the DFSA Complaints function on Complaints