According to the regulator, these individuals are using documents which bear the Dubai International Finance Centre letterhead.
It added that the reported conduct involves people that are falsely advising victims that funds are available which they can access or that fictitious loans are available, the terms of which carry the promise of swift finalisation and release of funds.
According to the DFSA, once a victim has agreed to take up the loan, they are then told that registration with the DIFC is required for which a fee must be paid. False documents bearing the DIFC letterhead are used to legitimise the activity. The DFSA said this is called an Advance Fee Scam and directed members of the public and businesses to its website to find our more information.
