July 12, 2018: DFSA Fraud Alert

ALERTS

Fake DFSA Letter and Impersonation of DFSA Staff

12 Jul 2018

 

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public about a fraud in which a senior staff member of the DFSA is impersonated and a fake DFSA letter is used.

The fake DFSA letter is addressed to an individual (the beneficiary), who is requested to provide an “Expat Re-payment Certificate” and a “COT clearance” in order to receive an outstanding payment of AED 105,280.

The letter fraudulently uses the DFSA’s name and logo, and the name and purported signature of a senior member of the DFSA’s staff.

A copy of the document can be viewed here.
The DFSA informs you that:
• the “Central Bank of Dubai” does not exist;
• the letter is fake and has not been sent by the DFSA;
• the name of the DFSA, and that of a senior member of its staff, have been used without authority of the DFSA; and
• the DFSA does not issue correspondence of the type described in the letter.
The DFSA suggests that firms and individuals can avoid being scammed by considering the following steps:
• check the relevant regulatory status of a person before doing business with them;
• only do business with firms or individuals you trust.  Dealing with people you have never met may carry a higher risk;
• be particularly cautious when receiving unsolicited communications; and
• obtain independent professional advice before entering into any investment or transaction.

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

The DFSA has also issued warnings and guidance about the common types of scams, including Advance Fee 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 correspondence or documents that purport to be issued by the Dubai International Financial Centre (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: COMPLAINTS

Link:

DFSA notice

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