The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public to an advance fee scam in which a DFSA Authorised Firm has been impersonated.

The scammers have created a fraudulent website using the following information without the Authorised Firm’s permission:

• the Authorised Firm’s name;
• its DFSA reference number; and
• its registered address in the Dubai International Financial Centre (DIFC).

The scammers have also used a false “Guarantee Letter” requesting an advance payment to complete a “withdrawal plan” from a trading account. The letter fraudulently:

• claims to be issued by the Authorised Firm’s Chief Executive Officer;
• uses the Authorised Firm’s DIFC registration number;
• uses the Authorised Firm’s address in the DIFC; and
• claims that the DFSA is a guarantor of payment obligations.

The DFSA informs you that it does not act as a guarantor of Authorised Firms’ payment obligations to investors or any third parties.

The DFSA strongly advises you not to visit the website or respond to any communications regarding the above 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

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

The DFSA encourages consumers to refer to the list of regulated Firms and Authorised Individuals licensed by the DFSA that is available on the DFSA's Public Register

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