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23 Jul 2012, 12:07 pm | Regulator or Authority Impersonation

False DFSA Documents used to Promote a Fraudulent Scam

The Dubai Financial Services Authority (DFSA) alerts the public to an internet based Advanced Fee Scam involving unauthorised and misleading use of the identities of the DFSA and its Chairman, Mr Saeb Eigner. The letter also falsely purports to represent the Central Bank of the UAE, Abu Dhabi Commercial Bank, and the UAE Ministry of Finance. The scammers sent unsolicited letters, on DFSA letter headed paper, to persons by email informing them that:- they will receive a large sum of money, in this case $2,161,500, as beneficiary of the “Dubai National Lottery Foundation 2012 online prize awards”; and- the funds cannot be released until the payment of a   remittance fee, in this case $21,600.The false DFSA letter informs the addressee that the amount of $2,161,500 will be remitted to the addressee once the payment of $21,600 has been transferred.The letter is false and is fraudulently motivated. An example of the false letter can be viewed here.The scammers also send false “Approval” letters, in an apparent attempt to add authenticity to the scam. An example of the false Approval letter can be viewed here.If you receive letters of this type you should take the following action:- Ignore them; or- Report them to the Police or relevant financial services regulator.You should not:- Respond to the letters; or- Send money to any person.If you are in doubt you should call your relevant financial services regulator for advice.The DFSA informs you that:- The DFSA does not write letters to members of the public requesting the transfer of funds; and- The DFSA does not communicate via private e-mail addresses (e.g. Gmail or Hotmail).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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