The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public to false claims by introducing brokers of MultiBank FX International Corporation of the BVI (MultiBank FXIC), that MultiBank FXIC and a non-existent company in the name of MultiBank Trading and Investments are authorised and regulated by the DFSA.
The DFSA advises that the only entity within the MultiBank Group that is authorised and regulated by the DFSA is the DIFC branch of MEX Australia PTY LTD. All other MultiBank Group entities are not, and have never been:
• authorised or regulated by the DFSA;
• incorporated in the DIFC; or
• given a commercial licence to operate in the DIFC by the DIFC Registrar of Companies.
The DFSA suggests that firms and individuals can reduce the risk of being scammed by taking the following steps:
• Check the relevant regulatory status of a person before doing business with them;
• Only do business with firms or individuals you trust. Dealing with people you have never met may carry a higher risk; be particularly cautious when receiving unsolicited communications; and
• Obtain independent professional advice before entering into any investment or transaction.
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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