Thursday 7 July 2011

DFSA warns of scams on internet - The National

Internet fraudsters are using fake documents carrying the letterhead of the Dubai International Financial Centre (DIFC) and posing as government officials to con people in advance-fee frauds.

The alert from the financial free zone's regulator comes amid an increase in online fraud involving the DIFC and the Dubai Financial Services Authority (DFSA), which oversees companies based in the centre. The DFSA has issued seven warnings about such scams using the DFSA and the DIFC's names as bait since 2008. 'More sophisticated scams will use the stolen identities of reputable businesses and agencies to give their scams some form of legitimacy,' a DFSA spokeswoman said. 'The DIFC and DFSA, like many other agencies, may have its identity misused from time to time. When the DFSA becomes aware of such instances it notifies the public and takes action when it can.'

Before yesterday's alert, the most recent warning came last August, when the DFSA raised concerns over an 'increase in fraudulent activity' by people 'impersonating companies and offering loans and investments to potential victims'.

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