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

The scammers have set up a fraudulent website (gmg-limited.com; no longer available) and a duplicate website (gmg-limited.tech), containing links to documents, such as policies and terms and conditions, falsely claiming to be issued by GMG. These websites and documents fraudulently contain the following information without GMG’s permission:

• GMG’s full name;
• GMG’s DFSA reference number; and
• GMG’s address in the Dubai International Financial Centre (DIFC).

The websites also include:

• a UAE mobile number that does not belong to GMG or any of GMG’s staff; and
• links to documents purporting to be issued by GMG which fraudulently contain the DIFC address of a different Authorised Firm, misrepresented as GMG’s.

Furthermore, the scammers have used a fraudulent “Letter of Guarantee” falsely claiming to:

• be issued by a GMG employee; and
• provide a guarantee of a fund transfer, subject to receiving an advance payment of a “protective tariff”.

The DFSA strongly advises you not to visit the websites 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