UAE warns investors to forged loan documents using fake SCA logos
Securities and Commodities Authority urges vigilance and provides tools to verify financial institutions' authenticity
UAE Warns Investors Against Fraudulent Loan Documents with Forged SCA Logos
Investors in the UAE are being warned to be extremely vigilant in financial transactions.
The SCA issued a public warning that these fraudulent loan and financing documents are unrelated to its official services or operations.
In order to help the public, the SCA emphasized that the database of licensed businesses on its official website is a vital tool for confirming the authenticity of financial institutions doing business in the United Arab Emirates.
The authority reiterated its commitment to safeguarding the integrity of the country’s financial markets and protecting investors from potential fraud.
As a government regulator, the SCA oversees the UAE’s financial markets to ensure transparency, fairness and compliance. It advised residents and businesses to remain vigilant and utilize its resources to avoid falling victim to fraudulent schemes.
