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27 Dec 2024, 09:57 am | Regulator or Authority Impersonation

Fake Licence Used in Scam Impersonating The DFSA

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public to a scam involving the impersonation of the DFSA.

A scammer, purportedly named “Cristian Bogl”, falsely claims to represent at least two financial services firms. One of these firms is a legitimate DFSA Authorised Firm which has also been recently impersonated, and for which the DFSA issued an Alert on 22 November 2024.

In an attempt to appear legitimate, a fake licence document (the Fake Licence) is used which:

  • is headed “License to Carry Out Regulated Activities”;
  • contains “Registration number 4587-13”;
  • states that Mr Bogl is “authorised and regulated by the Financial Services Authority (DFSA)”;
  • contains a signature purportedly of the DFSA “Chief Regulatory Officer”” and
  • is purportedly stamped with a DFSA seal.

A copy of the Fake Licence may be accessed here.

The DFSA informs you that:

  • the DFSA does not issue licences which are headed “License to Carry Out Regulated Activities”;
  • the registration number appearing on the Fake Licence is not a genuine DFSA licence number, and is also in the wrong format;
  • there is no officeholder or employee in the DFSA which holds the title “Chief Regulatory Officer”; and
  • the seal used on the Fake Licence is false.

The DFSA strongly advises you not to respond to any communications regarding this scam, and under no circumstances should you send or give any money to any party connected to 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: ALERTS

The DFSA has also issued warnings and guidance about the common types of scams perpetrated on consumers. For more information on these scams, please go to: HOW TO AVOID BEING SCAMMED

The DFSA encourages consumers to refer to the list of regulated Firms and Authorised Individuals licensed by the DFSA that is available on the DFSA's: PUBLIC REGISTER

If you have any concerns about the authenticity of any correspondence or documents that purport to be issued by the Dubai International Financial Centre (DIFC), DFSA or a DFSA regulated Firm, you should direct your concerns to the DIFC on Tel:+971 4 362 2222 and to the DFSA via the DFSA Complaints function on: COMPLAINTS 

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