The Dubai Financial Services Authority (DFSA) has issued an alert to advisers and their investors of a current fraudulent e-mail scam facilitated through [email protected] which is claiming to be sent by His Excellency Abdullah Mohammed Saleh, Governor of the Dubai International Financial Centre (DIFC).
The e-mail is touting loan funds for up to US$3.5 million offered at an interest rate of 3.5% per annum. It’s this seemingly attractive rate that will arouse the interest of individuals seeking finance, warns the DFSA. The e-mail supports its scam by stating that the DIFC provides loans for procuring investments projects subject to a borrower supplying indepth information including a project report or a feasibility study, signing a Memorandum of Understanding (MoU) with the DIFC; and paying application fees. The DFSA emphasises that the MoU is a false document which has been use...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
