The Securities and Commodities Authority (SCA) would like to draw the attention of investors and the public that the Authority is receiving several inquiries from the public about the validity of the registration certificates or license certificates obtained from promoters or representatives of companies offering investment opportunities and claiming to be licensed by the SCA. As these certificates were found to be "false certificates" and the names of the companies mentioned therein are not registered or licensed by the SCA, and that the investment offers that are marketed and promoted by the delegates of these companies are "fake offers" aimed at investors, especially individuals. The SCA would also note that some companies have been spotted stating in their websites that they are licensed by the SCA and/or by other regulatory authorities within the UAE. However, they were found unlicensed.
In most cases it turns out that these companies are "fictitious entities" that carry out financial fraud and communicate with individuals through several means, including telephone calls, text messages, e-mails, social media, induction and interview with representatives of these companies or entities. These companies introduce seductive offers, promises to earn high returns and to get rich quickly, and these claims are backed by forged documents and certificates of licenses. Also, the representatives of these companies tend to insist on individuals to make their decision to invest immediately as soon as the company and its services are introduced, and without leaving time for individuals to think about the investment offer, and they communicate with individuals throughout the day to push them to invest.
The SCA reiterates its caution to deal with such companies and their representatives, or signing any forms or contracts issued by them or transferring any funds in their favor. The SCA urges investors and the public to verify the license of companies that offer investment opportunities and claim to have legal licenses, through reviewing the list of the registered and licensed companies on the website of the Securities and Commodities Authority (www.sca.ae), or similar regulatory authorities (such as the Central Bank of the UAE, the Insurance Authority, the Dubai Financial Services Authority, the Financial Services Regulatory Authority of Abu Dhabi Global Market) or through direct communication with the SCA and similar regulatory authorities.
The SCA can be contacted by:
Telephone (800722823) or (+97126277888) or (+97142900000)
or by email (email@example.com), violations and suspicious investment offers can be reported to the SCA through email (firstname.lastname@example.org).