Unlicensed firms falsely impersonating the Group or one of its subsidiaries, mainly Al Ansari Exchange
Al Ansari Financial Services PJSC , , one of the leading integrated financial services groups in the UAE, issued an alert today to the public about unlicensed firms falsely impersonating the Group or one of its subsidiaries, mainly Al Ansari Exchange, the largest outward personal remittance and foreign exchange company in the UAE, and offering “high-return” investment scams.
These fraudulent firms often operate on social media platforms, promising unrealistic returns on investments and using Al Ansari Financial Services’ or Al Ansari Exchange’s name and logo to gain trust. Al Ansari Financial Services reiterates that its shares are listed on the Dubai Financial Market (DFM) and can only be traded on the platform through licensed brokerage firms. The Group does not solicit investments through social media or unauthorised channels.
Al Ansari Financial Services recommends the following steps to protect yourself from investment scams:
- Only invest with licensed firms: Verify a firm’s license with the Securities and Commodities Authority (SCA), or DFM before investing. To view the companies licensed by the Authority, please visit the following link: Licensed Companies | Open Data | Securities and Commodities Authority
- Beware of “high-return” promises: If it sounds too good to be true, it probably is. Legitimate investments typically carry inherent risks.
- Do your research: Independently research any brokerage firm before investing, and never feel pressured to make a quick decision.
- Verify identity: If unsure about a firm’s legitimacy, contact Al Ansari Financial Services directly through its official website or call centre.
- Report suspicious activity: Report any suspected unlicensed firms impersonating Al Ansari Financial Services to the authorities.
Al Ansari Financial Services remains committed to promoting financial literacy and educating the public about investment scams. For more information and resources, please visit our website at https://aafs.ae/beware-of-impersonation-scam/ or contact us at ir@aafs.ae.
In addition to financial scams, Al Ansari Financial Services also highlighted the growing threat of digital fraud and cybercrime. The Group has conducted,through its subsidiary Al Ansari Exchange, numerous awareness campaigns, urging customers to remain vigilant against suspicious communications via phone, SMS, and email.
Source: zawya