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Warning! Don't fall for this $1 million scam in UAE
Dubai - The scammers contact consumers and falsely claim that they are the 'beneficiaries' of a $1 million raffle as part of the 'Emirates Lottery 2017.
On Sunday, the Dubai Financial Services Authority (DFSA) issued a warning to its subscribers about a fraudulent scheme in which its name is being used to dupe hopeful raffle winners.
Titled, 'False DFSA Documents Used to Promote Fake Emirates Lottery', the circular reads: "Dear Subscriber, DFSA alerts the financial services community and members of the public about a fraudulent scheme in which the DFSA has been impersonated."
According to the alert, the scammers contact consumers and falsely claim that they are the "beneficiaries" of a $1 million raffle as part of the 'Emirates Lottery 2017.
Issuing the not-so-lucky winners with a fake 'certificate of award', the scammers then instruct consumers to submit the certificate, complete with an $800 fee, to the National Bank of Dubai along with a Fund Release Order form, allegedly issued by the DFSA.
To try and pose as a legitimate scheme, the scammers send a breakdown of what exactly the consumer's $800 is being used for, citing a certification fee of $550; a court seal fee of $100; and an endorsement fee of $150.
They then promise the "lucky" winner that the bank will transfer the $1 million funds direct to them.
Using the name of the DFSA's chairman to promote the scam, the scammers contact the consumers by way of false email address using the DFSA's name (dfsa.sector@financier.com) to correspond with them.
In the circular, the DFSA has reiterated that the Emirates Lottery 2017 "does not exist" and added that there is no banking organisation in Dubai or in the United Arab Emirates called the National Bank of Dubai.
"The DFSA strongly advises that you do not respond to any communication regarding the scam, and under no circumstances should you send or give any money to any party in connection with the scam."
kelly@khaleejtimes.com
DFSA's tips on how to avoid being scammed:
> Doing general searches (e.g. on Google) to see what information can be found about the company you are dealing with
> Only dealing with people you trust. Dealing with individuals you have never met carries a higher risk
> Getting independent advice before entering into a transaction, or getting a second opinion from a trusted friend
> Using common sense
Be wary of the tell-tale signs of a scam such as persons who:
> Are reluctant or refuse to provide information on who regulates their activity; and/or
> Use generic email address such as Hotmail and Yahoo; and
> Keeping paperwork safe. When entering into any new relationship ensure that you maintain good records of all paperwork you receive and keep records of all your meetings and conversations. This may not prevent you from being scammed but will assist in the event that you need to take any action.
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