The email address is being sent to managers, directors and CEOs of companies claiming to be from the Dubai International Financial Service Authority (DIFCA) using both the name and logo of the real Dubai International Financial Centre (DIFC), and the identity of a DIFCA employee.

The DFSA warns that the scam letter is linked to organised crime and the offer enticing brokers and agents into an equity and project management programmes with promises of loan funds between US$2.5m to US$5m on a rate of 3.5% per annum is completely false.

However, neither the DIFC nor the DFSA offer participation in equity investment and project management programmes.

Email scams impersonating the DIFCA have done the rounds before. Interestingly, the scammers appear to seek attention with an offer of 3.5% for loan funds as last year’s fraud touted the same rate.

Concerned enquiries can be checked out with the DIFC on +971 4 362 2222 or the DFSA on +971 4 362 1576.