“Securities” warns of fake companies and entities that deal in unlicensed financial activities

Abu Dhabi, January 16 / The Securities and Commodities Authority confirmed the provision of all necessary forms of support to protect investors and their savings, develop the securities sector and push it to advanced and competitive levels regionally and globally, warning against fraudulent practices in the financial sector and financial markets.
The authority told the Emirates News Agency, WAM, as part of its awareness campaign to confront unlicensed financial activities in the country, that it supports sound practices, protects licensed financial activities from unfair competition, and promotes investment culture in a manner that advances the comprehensive development process of the country.
She explained that her awareness campaign aims to limit the promotion of fraudulent practices by unlicensed companies or entities to conduct financial activities, limit transactions to licensees in a way that contributes to protecting investors, protecting licensed financial activities from unfair competition and strengthening combating money laundering.
The Authority warned against investors falling victim to unlicensed trading companies, pointing out that these companies are trying to exploit novice traders who do not have sufficient knowledge in investing in the financial markets, and called for avoiding dealing with them and promptly informing them and all relevant regulatory authorities as soon as it is discovered that the company is not licensed.
The authority also warned against the plans of unlicensed trading companies, explaining that these parties make false promises such as guaranteed and immediate profit to entice people to deal with them, in addition to the request of these companies to open a trading account immediately in order to exploit investment opportunities, and called for not interacting with these companies so as not to Investors lose their money.
The authority also called on investors to avoid anonymous messages and calls and not to respond or interact with calls, e-mails, and websites that promote investments of unknown origin. Noting that the licensed and regulated company is transparent, and is keen to publish licensing information on its website, indicating the license number and the licensing regulatory authority.
The authority noted that unlicensed companies resort to fabricating forged commercial and professional documents and licenses to gain public confidence, noting that the investor can verify the authenticity of the documents and information provided and make sure that they are actually licensed by a reliable regulatory authority in the country, by obtaining a copy. of those licenses and compare them with the data published on the official website of the licensing party.
The authority clarified that licensing companies and monitoring them by regulatory and supervisory authorities protects investors from the risks of dealing with an unlicensed and unregulated company. concerned regulatory and official channels.