Dh3.6m lottery scam: Dubai authority warns
By Staff Emirates 24/7
DFSA says fraudsters offer access to Dh3.67m funds and then demand fee
Published Monday, February 16, 2015
The Dubai Financial Services Authority (DFSA) has issued alerts for the public and financial services community about a fraudulent lottery scam that uses false documents purportedly issued by the authority.
The Dubai Financial Services Authority told residents not to trust this as no such ‘scheme’ exists.
The perpetrators of the scam claim to be able to provide access to funds of up to $1 million (Dh3.67m) and the source of the funds is allegedly the ‘Emirates Lottery Foundation Promo’, the DFSA said in statement.
They also fraudulently use the name and logo of the DFSA, and the name and purported signature of a former DFSA employee to promote the scam.
Fraudsters also demand consumers to pay an advance fee for a ‘Funds Clearance Certificate’ to gain access to the ‘Emirates Lottery Foundation Promo’ funds, the DFSA said in a note.
“The DFSA informs you that ‘Emirates Lottery Foundation Promo’ does not exist in Dubai or the UAE and it does not get involved in any ‘lottery’, and does not approve or authorise any transfer of ‘lottery funds’”, the statement said.
It also informed public and financial services community that the DFSA does not charge any payment fees in relation to the transfer of funds and does not issue ‘Funds Clearance Certificates’.
The name and purported signature of a former employee of the DFSA has been used without authority to add legitimacy to the scam, DFSA said.
“The DFSA strongly advises that you do not respond to any communication regarding the ‘Emirates Lottery Foundation Promo’, and under no circumstances should you send any money to the perpetrators of the scam,” the DFSA statement added.