Beware of this UAE scam, financial authority warns
Dubai: Consumers and businesses in the United Arab Emirates were warned on Sunday to be on alert for scammers who continue to pose as financial services authorities to defraud them with their hard-earned money.
The fake certificates of incorporation and the money laundering authorization are among the latest forged documents that have been intercepted by the Dubai Financial Services Authority (DFSA).
Crooks also forged the logos of the United Nations and the Dubai International Financial Center (DIFC) and created a fictitious authority called “Secretary General of DIFC”.
Fraudsters would have tried to defraud certain individuals and convince them to invest in an entity called “First Security Service” by issuing a certificate promising the transfer of millions of US dollars.
In one of the false papers, titled “International Money Laundering Clearance Certificate”, the fraudsters claimed that the $ 6.5 million amount belonging to the person named in the certificate had been cleared of any involvement in money laundering. money and terrorism and that the latter could receive the amount.
“The crooks also demanded that the person mentioned in the certificate invest with First Security Service,” the DFSA said.
The DFSA did not share further details on how the scam was discovered or who the unsuspecting customers were.
But the authority clarified that no company called First Security Service had ever been authorized or regulated by the DFSA, and that the “certificate of incorporation” dated January 2013 which would have legalized the activity of the company was false. .
“The signature on the fake ‘Certificate of Incorporation’ is not the signature of the president of the DFSA,” said the regulator.
“The DFSA urges you not to respond to any communication from First Security Service or relating to this scam, and under no circumstances to send or give money to any party connected with the scam,” he said. -he adds.
Avoid getting ripped off
Here are a few things to keep in mind, according to the DFSA:
1. Check the website of the relevant regulatory agency to see if the company you are dealing with is listed and regulated. You can even contact the regulator to check if the business is regulated.
2. Perform general searches (eg Google) to see what information can be found about the company you are dealing with.
3. Deal only with people you trust. Dealing with people you’ve never met comes at a higher risk
4. Get independent advice before closing a deal, or get a second opinion from a trusted friend.
5. Use common sense.
Watch out for telltale signs of a scam such as people who:
– Communicate only by e-mail and telephone with reluctance or refusal to meet in person;
– are reluctant or refuse to provide information on who regulates their activity; and or
– Use a generic email address such as Hotmail and Yahoo; and
– Keep the papers safe. When entering a new relationship, make sure you keep good records of all documents you receive and keep records of all your meetings and conversations. It might not stop you from being scammed, but it will help if you need to take action.