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

The scammers sent a false email with the subject line “TRANSFER APPROVAL/AML COMPLIANCE” to an individual. The email falsely states:

“You are requested to pay $250,000 representing 0.005% of your current deposit on [a company’s] account ending ******5771 to the Dubai Financial Services Authority (DFSA) to avoid permanent account closure.  As soon as the Tax is paid to the DFSA, a clearance will be issued to you. With this clearance, your account will be reactivated immediately and wired funds will be released to your designated account.”

In an attempt to make the scam seem authentic, the scammers have fraudulently used the DFSA’s name without permission or authorisation, and have  falsely claimed to be a bank regulated by the Central Bank of the UAE.

The DFSA informs you that:

• the email is false and fraudulent;
• the DFSA does not charge any “tax” in order to “avoid permanent account closure”; and
• the DFSA does not provide any “clearance” for the payment of “tax”.

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 is 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, 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