The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public to a scam in which a legitimate DFSA Authorised Firm, Fortrade (DIFC) Limited, has been impersonated.

The scammers have set up a fraudulent website (https://fortradedifc.ae) which refers to an entity called “ForTradeDifc” and “ForTradeD IFC” and uses information relating to the legitimate DFSA Authorised Firm without its permission.

The scammers have impersonated Fortrade (DIFC) Limited by:

• using a name similar to that of the legitimate DFSA Authorised Firm
• falsely representing that the entity is regulated by the DFSA; and
• using the Firm’s name, address and other details to enhance credibility.

The DFSA understands that the fraudulent website is promoting an entity that is not associated with Fortrade (DIFC) Limited. The DFSA confirms that:

• the entity referred to as “ForTradeDifc” or “ForTradeD IFC” is not a legitimate DFSA Authorised Firm; and
• the website referenced above is not associated with, and has not been authorised by, Fortrade (DIFC) Limited.

The DFSA strongly advises you not to respond to any communications regarding this scam, and under no circumstances should you send or give any money to any party connected to the scam.

The DFSA has a page on its website dedicated to alerts which it has issued about scams. All alerts issued by the DFSA may be accessed by going to Alerts.

DFSA Authorised Firms are subject to financial services laws and rules administered by the DFSA.  These laws and rules are designed to protect users and potential users of the financial services industry in the DIFC, including consumers, when they engage with an Authorised Firm to obtain a financial product or financial service.

Only DFSA Authorised Firms are permitted to provide financial services in or from the DIFC, subject to the laws and rules mentioned above. If you are unsure of the regulatory status of a firm, please check the DFSA’s PUBLIC REGISTER before entering into any financial services activity with that firm.

If you have any concerns about the authenticity of any correspondence or documents that purport to be issued by the DIFC, DFSA or a DFSA regulated Firm, you should direct your concerns to the DIFC on Tel: +971 4 362 2222 and to the DFSA via the DFSA Complaints function on: COMPLAIN