Picture for illustration purposes only.
PHOTO BY ARCHIVE
DUBAI – Were you offered an easy loan in exchange for a small fee? It’s a scam, the Dubai Financial Services Authority (DFSA) has warned.
According to the DFSA, a fake bank called Skyo Microfinance Bank Limited is running the scam that is now targeting UAE residents.
The scam works by asking victims to transfer a fee to fund an insurance policy as a guarantee for the loan.
Victims were also given a fake certificate of authentication purportedly issued by the DFSA.
“The DFSA advises the public that it does not issue certificates of incorporation of any kind to any company, firm or individual,” the authority said on its website.
The DFSA warned individuals “not to respond to Skyo Microfinance Bank Limited or any other person or company representing the firm.” ICA/Expat Media
Flights diverted from Dubai International Airport
Emirati on trial for stabbing teen in Dubai Mall
India Pavilion at Dubai Expo 2020 unveiled: all you need to know
3 times Duterte’s speeches got interrupted by unlikely distractors
Dubai Police issue advisory for beachgoers
Cloudy skies, humid weather forecast in UAE
Girl falls from Abu Dhabi school balcony
Drug smuggling into UK via Dubai: Couple faces death penalty
Abu Dhabi, Al Ain churches and temple to get new legal status
10,191 fines for carlift drivers in Sharjah