Indian state's cabinet overruled advice that Adani deal was not good value
business3 days ago
UAE residents have been warned against scammers using a licensed company’s name and other details to dupe investors.
The Securities and Commodities Authority (SCA), which regulates securities in the UAE, warned that “an unknown party is impersonating the name and description of ADS Securities” which is licensed by the regulator.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
The scamsters used the official licence issued to ADS Securities to avoid any fraudulent practices by unknown entities.
“The SCA calls on all investors to verify the truth of the entity that they deal with before signing any agreements or making any financial transfers and to refer to the data of licensed companies published on SCA’s website,” the regulator said in an advisory.
Authorities in the UAE issue advisory to investors and residents, asking them to source information from reliable sources and check the authenticity of e-mails and messages sent to them through different channels so they don’t become victims of fraud.
Earlier, the SCA called on investors to refrain from dealing with Platinum FX company in relation to any activities that are subject to the authority's supervision as the company has not obtained the necessary licence to practice any such activities. “As such, SCA disclaims any responsibility for any dealings with this company in this regard,” said the regulator.
ALSO READ:
Indian state's cabinet overruled advice that Adani deal was not good value
business3 days ago
Congo has filed complaints over use of conflict materials
business3 days ago
The price of 18-carat gold is nearly a fifth lower than that of 22-carat gold
business3 days ago
Ohana Development and Jacob & Co. partner unveil Dh4.7 billion project
business3 days ago
In 2024, Dubai is expected to deliver nearly 100,000 new homes
business3 days ago
UNS Farms expands its edible flowers range
business3 days ago
Toymakers brace for (trade) war, redesigning products and scouring the world for new low-cost suppliers
business3 days ago
This round adds to the $2.3 million the firm raised in seed funding last year
business3 days ago