The fraudsters are using e-mails and logos purporting to be from the Dubai Financial Services Authority and promising loans of $125 million
The Dubai Financial Services Authority (DFSA) is warning Dubai’s financial services community and the general public about a scam being committed by fraudsters purported to come from the DIFC Authority.
In an alert posted to its website on Monday, the DFSA noted that the scammers are using fraudulent e-mails and documents offering consumers loans of up to $125 million.
The e-mails include a fake loan agreement document bearing the DIFC’s logo and the name of its governor.
According to the DFSA warning, the scammers tell consumers they need to pay $10,000 in handling fees – which will not be refunded – in addition to $400,000 for expenses required to facilitate the loan. This, the scammers say, is refundable.
The DFSA Authority does not provide loans and therefore does not levy any fees or charges in relation to them.
“The DFSA strongly advises that individuals do not respond to any communication regarding the scam, and under no circumstances should they send any money to any party involved in the scam,” the warning notes.
The statement notes that the DFSA has a page on its website dedicated to alerts.
If one has concerns about the authenticity of correspondence or documents purporting to be from the Dubai International Financial Centre (DIFC), DFSA or a DFSA-regulated firm, local residents are advised to contact the DFSA via telephone or through the complaints function of the DFSA website.