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18 Mar 2013, 12:03 pm | Regulator or Authority Impersonation

False DFSA Document used to Promote a Fraudulent Scam

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public to a fraudulent scam involving the use of a false DFSA document.The perpetrators of the scam use a document (the Fraud Document) which bears the DFSA’s logo and claims to be from the DFSA’s “Enforcement Department”. The Fraud Document is a letter which states that the DFSA has intercepted and put on-hold a transfer of funds until an “Asset & Clean Bill of Record Clearance Certificate” is provided.  The Fraud Document purports to be signed by Sheikh Saqhid Murtah, who claims to be the “Head of Enforcement” at the DFSA.The perpetrators allege that the Asset & Clean Bill of Record Clearance Certificate will only be issued upon the payment of a fee.  The recipient of the Fraud Document is then asked to pay the fee so that the Asset & Clean Bill of Record Clearance Certificate can be issued and the funds released.A copy of the Fraud Document can be viewed here.The DFSA informs you that:• This Fraud Document is false, and has been used by the perpetrators of the scam to legitimise their fraudulent activity;• “Sheikh Saqhid Murtah” is not the Head of Enforcement at the DFSA  and no one by that name works at the DFSA;• The DFSA does not issue “Asset & Clean Bill of Record Clearance Certificates”;•  The DFSA does not intercept or put on-hold transfers of funds; and• The DFSA will not ask for the payment of a fee in such circumstances.The DFSA strongly advises that you do not respond to any person or company who sends such documentation, and under no circumstances should you send any money.The DFSA has a page on its website dedicated to Alerts which it has issued in relation to scams.  The perpetrators of this fraud have fashioned the Fraud Document so that it looks like a DFSA Letter in order to legitimise their activities.  All Alerts issued by the DFSA may be accessed by going to: Your-Resources/dfsa-alertsThe DFSA has also recently issued warnings and guidance about the common types of scams perpetrated on consumers. For more information on these scams, please go to: HowToAvoidBeingScammedIf you have any concerns about the authenticity of any DIFC or DFSA correspondence or documents, you should direct your concerns to the DIFC on +971 4 362 2222, or to the DFSA Complaints function by accessing the complaints portal on the DFSA website or calling the DFSA on +971 4 362 1576.

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