The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public to a fake email in which the DFSA is impersonated.

The scammers sent an email purportedly from the DFSA to members of the public.  The email stated that the recipients’ funds held in a Dubai based bank account had been inactive for two years in violation of the DFSA rules.

The scammers encouraged the recipients to transfer their funds from the Dubai account to a Ugandan branch of an African bank.

The email also stated that the DFSA is “committed to providing our clients with highest level of service and support.  We understand that your finances can be a complex and challenging task”. The scammers then invited the recipients to contact them for guidance on withdrawing their funds from the Dubai based bank.

Should you receive this email, the DFSA informs you that:

• the email is false, fraudulent and was not sent by the DFSA;
• the email address provided by the scammers for communications, [email protected], is not a legitimate email address of the DFSA;
• the DFSA does not assist members of the public with withdrawing funds; and
• the DFSA is the regulator of Financial Services in the Dubai International Financial Centre. The DFSA does not provide Financial Services.

The DFSA suggests that firms and individuals can avoid being scammed by:

• checking the relevant regulatory status of a person before doing business with them;
• only doing business with firms or individuals you trust and being particularly cautious when receiving unsolicited communication - dealing with people you have never met may carry a higher risk; and
• obtaining independent professional advice before entering 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 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 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 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