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2007
25 February 2007 — Enforcement alert — Internet Fraud Warning
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Feb 25 2007 onwards

25 February 2007 — Enforcement alert — Internet Fraud Warning



The DFSA has issued several media releases to warn the public of an Internet Fraud and has obtained orders to close down the operation of fictitious websites called the Dubai Options Exchange, the United Arab Emirates Commodity Futures Board and Cambridge Capital Trading that were claiming to offer financial services within the DIFC. The orders also relate to internet service providers. The websites falsely represented that the Dubai Options Exchange and the United Arab Emirates Commodity Futures Board existed in the DIFC and that DFSA Authorised Firms were Members of the Dubai Options Exchange and could trade currency options on behalf of investors. The fraudulent scheme targeted Australian and Singaporean investors who were cold called by representatives of Cambridge Capital Trading who directed investors to these false websites and asked for funds to a transferred into a bank account in Malaysia.

The DFSA welcomes any information relating to these fictitious websites and any related matters. Please send any information to:

info@dfsa.ae