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09 Oct 2014, 12:10 pm | Regulator or Authority Impersonation

False DFSA Documents used to Promote an Advance Fee Scam

The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public to an Advance Fee Scam using false documents purportedly issued by the DFSA.The perpetrators of the scam allege to:• offer loans to members of the public (Consumers) in the amount of USD 490,000;
• provide Consumers with a false “Loan Approval Document” purportedly issued by the DFSA;
• require Consumers to pay a registration fee in the amount of USD1,090; and
• require consumers to enter into a loan agreement which should be signed and endorsed by a legal advisor.A copy of the false document can be viewed here.The DFSA informs you that the DFSA:• Does not offer loans of any amount whatsoever;
• Does not approve loans;
• Does not charge “registration fees” in respect of loans; and
• Does not require consumers to enter into loan agreements.

The DFSA strongly advises you not to respond to such invitations, and under no circumstances should you send the perpetrators of the scam any money.
The DFSA has a page on its website dedicated to Alerts which it has issued in relation to 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

If you have any concerns about the authenticity of any DIFC or DFSA correspondence or documents, you should direct your concerns to the DIFC on Tel: +971 4 362 2222 and to the DFSA via the Complaints function on: COMPLAINTS

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