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Advance-fee scam involves bogus DFSA documents

Chris Hamblin, Clearview Publishing, Editor, London, 2 January 2015


The Dubai Financial Services Authority is alerting the financial services community and the public about a fraudulent scam that uses documents purporting to come from its own offices.

The perpetrators of the scam claim to be able to provide access to US$ 26,000,780. The source of the funds is a group of allegedly "willed funds". The scamsters further claim that the funds are subject to a "transfer stop order" which:

* fraudulently uses the name and logo of the former financial services regulator in the United Kingdom, the Financial Services Authority (UK FSA);
* is purportedly signed by a former Chief Executive Officer of that moribund body; and
* requires persons to pay a "clearance fee" to obtain a "clearance document", in accordance with the "monetary policies" of the "Financial Services Authority of the UAE", so as to gain access to "willed funds".

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