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False Dubai Financial Services Authority documents used in fraud

Editorial Staff

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public about a fraudulent scheme in which the DFSA has been impersonated.

Media Release: Sunday 1 October 2017

As part of the fraudulent scheme, the scammers contact consumers and:

• falsely claim that the consumers are the “beneficiaries” who have won the “2017 Mobile Award” made by the “Emirates Lottery 2017”; and
• issue a fake “Certificate of Award” issued by the “Emirates Lottery 2017” stating that the consumers have been awarded the amount of USD 1,000,000.

The scammers instruct consumers to submit to the “National Bank of Dubai” the “Certificate of Award”, and a completed “Fund Release Order” form allegedly issued by the DFSA, so that the bank can transfer the Award funds to the consumers.

The scammers also falsely claim that the DFSA requires the consumers to pay a total of of USD 800 in fees to issue the “Fund Release Order”. The breakdown of the total fee of USD 800 is said by the scammers to be as follows:

• Certification Fee of USD 550;
• Court Seal Fee of USD 100; and
• Endorsement Fee of USD 150.

The scammers also fraudulently use the name of the DFSA’s Chairman to promote the scam, and use a false email address using the DFSA’s name to communicate with consumers, namely, “dfsa.sector@financier.com”.

Please click https://www.dfsa.ae/getattachm... to view the fraudulent “Certificate of Award” and the “Fund Release Order”.

The DFSA wishes to advise that:
• the DFSA does not issue any “Fund Release Order”;
• the “Emirates Lottery 2017” does not exist, and the “Certificate of Award” is therefore a false document;
• there is no banking organisation in Dubai or in the United Arab Emirates called the “National Bank of Dubai”;
• the DFSA does not use the email address “dfsa.sector@financier.com”; and
• the scammers have fraudulently used the name of the DFSA, and that of its Chairman, without authority and for an improper purpose.

The DFSA strongly advises that you do not respond to any communication regarding the scam, and under no circumstances should you send or give any money to any party in connection with the scam.

 


 

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