Investors in the UAE are being cautioned to exercise heightened vigilance in financial transactions after reports surfaced of fraudulent activities involving forged documents falsely attributed to the Securities and Commodities Authority (SCA).
In a public alert, the SCA revealed that these counterfeit documents, related to financing and loans, have no connection to its official services or activities. The authority emphasized the importance of verifying entities before engaging in any transactions, urging investors to ensure the accuracy of contact information provided by companies.
To assist the public, the SCA highlighted its database of licensed companies, available on its official website, as a key resource for verifying the legitimacy of financial entities operating within the UAE. The authority reiterated its commitment to safeguarding the integrity of the country's financial markets and protecting investors from potential scams.
The SCA, as a government regulator, oversees the UAE’s financial markets to ensure transparency, fairness, and compliance. It advised residents and businesses to remain cautious and utilize its resources to avoid falling victim to fraudulent schemes.