Dubai - False certificates used in fraudulent scam.
Published: Sun 4 Mar 2018, 6:25 PM
Last updated: Sun 4 Mar 2018, 8:51 PM
The Dubai Financial Services Authority (DFSA) has alerted residents and the financial services community about a fraudulent scam that impersonates the DFSA and the Dubai International Financial Centre (DIFC) using false documents purporting to be from the DFSA and the DIFC.
In a statement issued on Sunday, the DFSA said that the scammers have issued a "Certificate of Incorporation" bearing the name, address and logo of the DFSA and purportedly signed by the Chairman of the DFSA.
The Certificate of Incorporation falsely claims that First Security Service is incorporated by the DFSA. In relation to this document, the DFSA advised that:
- The DFSA does not incorporate companies and, therefore, does not issue Certificates of Incorporation.
- First Security Services is not, and has never been, authorised or regulated by the DFSA.
- The "Companies and Allied Matters Act 1990" is not a DFSA administered law.
- There is no such authority as Registrar General at the DFSA; and the signature on the fake Certificate of Incorporation is not the signature of the Chairman of the DFSA.
The $6.5m scam
The scammers have also issued an "International Money Laundering Clearance Certificate", bearing the logos of the United Nations and the DIFC, and purportedly bearing the signature of the "DIFC Secretary General".
The Certificate falsely claims that the amount of $6,500,000 (Dh23.8 million) belonging to the individual mentioned in the certificate has been cleared of all money laundering and terrorism involvement and that the latter can receive such amount.
The scammers also requested that the individual mentioned in the certificate invest with First Security Service. In relation to this document, the DFSA said:
- The DIFC Authority does not issue International Money Laundering Clearance Certificates for the purpose of clearing individuals from involvement in any terrorist activities.
- The false certificate appears to have been produced for a fraudulent and malicious purpose.
- The "DIFC security service Act on transfer/receival of money" does not exist.
- There is no such authority as the "DIFC Secretary General".
- The name of the individual which appears on the fake International Money Laundering Clearance Certificate has been used without authority and for a malicious purpose.
- The name and logo of the United Nations appears to have been used without authority and for a malicious purpose; and the signatures which appear on the fake International Money Laundering Clearance Certificate are also fake.
The DFSA strongly advises that residents and investors do not respond to any communications from First Security Service or relating to this scam, and under no circumstances should they send or give any money to any party in connection with 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 the 'Alerts' page or call +971 4 362 2222.
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