15 November 2018, Abu Dhabi: The Financial Services Regulatory Authority (FSRA) of AbuDhabi Global Market (ADGM) wishes to alert the financial services community and members of the public about a fraudulent advance fee scam promoted by persons claiming to represent an entity named “Al Mutahidha Investment Company PJSC”.
This entity falsely claims on its website (URL: www.aminvcae.com) that it is located in the ADGM Square on Al Maryah Island.
The FSRA advises the market, potential investors and members of the public that Al Mutahidha Investment Company PJSC:
- Is a fake company and the persons claiming to represent it are operating a fraudulent advance fee scam;
- Is not, and has never been, granted a Financial Services Permission or regulated by the FSRA; and
- Is not, and has never been, incorporated or registered in the ADGM.
The FSRA strongly advises the market and investors to not respond to any communications received from this entity. The persons operating the scam:
- Are located outside of the ADGM and the U.A.E;
- Target potential victims through a business website or social media platform and offer financing;
- Provide victims false documents, such as loan or investment agreements;
- Seek to obtain copies of company and personal identification documents from victims; and
- Seek to induce victims to pay an advance fee in exchange for its (false) promise of financing.
Only firms authorised by the FSRA can undertake Regulated Activities in the ADGM. The FSRA advises the market and investors to not deal with any firm until it is verified that the firm is authentic and has been granted the appropriate Financial Services Permission by the FSRA to undertake Regulated Activities in the ADGM.
Anyone with concerns about a website or a firm purporting to be incorporated or registered in the ADGM should check the ADGM Registration Authority’s Public Register, please click here.
To determine if an entity has a Financial Services Permission to conduct Regulated Activities in the ADGM search the FSRA’s Public Register, please click here.