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10 Jan 2018, 09:01 am | Regulator or Authority Impersonation

Fake Letter Referring to the DFSA and Impersonation of the DFSA’s Chairman

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public about a fraudulent scheme in which the DFSA, a UAE commercial bank and various entities of the UAE Government have been impersonated.

As part of the fraudulent scheme, the scammers contact consumers and:
• falsely claim that the consumer is the beneficiary of a remittance of USD 15.5 million;
• issue a fake letter that purports to be from “The Official Portal of the UAE Government”; and
• falsely state that the DFSA requires that the beneficiary pays a “due charge” of  USD 54,250 as charged by the “Federal Government” in order for payment of the remittance to be approved.

The scammers also fraudulently use an incorrect spelling of the name, and purported signature, of the DFSA’s Chairman to promote the scam, and falsely claim that the letter is copied to a UAE commercial bank and different government entities in the UAE.

Please click here to view the fraudulent letter headed “RE: APPROVAL AND ENDORSEMENT OF FUNDS FOR REMITTANCE TO [NAME OF CONSUMER]”.

The DFSA wishes to advise that:

• the DFSA does not deal with any payments that may be requested from consumers by the “Federal Government”;
• the scammers appear to have fraudulently used the name of the DFSA, and that of its Chairman, without authority and for an improper purpose; and
• the scammers also appear to have fraudulently used the name of:
  o a UAE Government Ministry;
  o a legitimate online government system; and
  o a legitimate UAE commercial bank.

The DFSA strongly advises that you do not respond to any communication regarding the scam, and under no circumstances should you send or give any money to any party in connection with 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, including Advance Fee scams, perpetrated on consumers. For more information on these scams please go to: HOW TO AVOID BEING SCAMMED

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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