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04 Oct 2012, 12:10 pm | Regulator or Authority Impersonation

False DFSA and Central Bank of the UAE Documents used in a Fraudulent Scam

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public to an internet based Advanced Fee Scam.  The scam involves unauthorised and misleading letters and documents which falsely use the identities of the DFSA and its Chairman, Mr Saeb Eigner, and the Central Bank of UAE.The method used by the scammers is to send out a number of fake documents to unsuspecting inpiduals, including: fake authorisation letters on DFSA letterhead; fake licenses on Central Bank of UAE letterhead; and• fake bank reference letters.The scammers falsely advise inpiduals that they have acquired EUR1,800,000 equivalent to USD $2,236,000 from the Dubai National Lottery. Such a lottery does not exist. The scammers offer to provide some or all of these funds to inpiduals provided that the inpidual pays an advance fee.One of the letters sent by the scammers, using the DFSA’s letterhead, purports to confirm that the amount of USD $2,236,000 has been transferred.The abovementioned letters and documents are false.  They are used by the scammers to add authenticity to the scam. Examples of the fake letters and documents can be viewed at the following links: fake DFSA letter click here; Fake licence document on Central Bank of UAE letterhead click here; and Fake bank reference letters click here.If you receive documents of this type you should take the following action:- Ignore them; or Report them to the Police or the DFSA.You should not:- Respond to the letters; or Send money to any person, company or organisation named in the letter.If you are in doubt you should call the DFSA for advice.The DFSA informs you that:- The DFSA does not write letters to members of the public authorising the transfer of funds; and The DFSA does not use private email addresses (e.g. Gmail or Hotmail) to either send or receive communications.The DFSA has recently issued warnings and provided guidance about common types of scams. For more information on these scams, please go to:HowToAvoidBeingScammedIf you have concerns as to the bona fides of a letter you have received bearing the DFSA letterhead, you can direct your concerns to the DFSA using the Complaints portal referred to above or by sending an e-mail to [email protected] or by calling the DFSA on +971 (0) 4 362 1500.

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