Back to alerts
20 Nov 2013, 12:11 pm | Regulator or Authority Impersonation

False DIFC Documents used to Promote a Fraudulent Scam

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public about a fraudulent scam involving the use of a false DFSA document.The scammers issue a false document entitled “Approval and Endorsement of Funds Remittances”. The document:• states that the DFSA has received a “payment order” for the transfer of USD 14 million and EUR 6 million from the Republic of Ghana; • states that the DFSA requires payment of a “registration fee” of GBP 8,000 from the recipient of the false document to approve the transfer of funds;• bears a copy of the DFSA’s logo; and• claims to be signed by the DFSA’s Chairman, Mr Saeb Eigner.The document is false and all references to the DFSA, its officers and/or employees on the document are false.A copy of the false document can be viewed here.The DFSA informs you that the:• “Approval and Endorsement of Funds Remittances” document is false, and has been used by the perpetrators of the scam to legitimise their fraudulent activity;• DFSA does not issue letters or certificates approving the transfer of funds;• DFSA will not ask for the payment of a fee in such circumstances; and• The scammers have used the name of the DFSA’s Chairman without authority and for a malicious purpose.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.

For better web experience, please use the website in portrait mode