DFSA Alerts Investors to Fake EGS Capital Sites Used in Online Investment Scam

Dubais financial regulator has issued a warning after discovering that scammers are using fake websites and forged communications to impersonate EGS Capital Limited, a firm that is officially authorised in the Dubai International Financial Centre (DIFC).

Investigations found that the fraudulent websites were designed to closely imitate the real companys online presence, including similar page layouts, branding elements and corporate descriptions. The scammers also displayed DIFC-related addresses without authorisation, creating the impression that the websites were operated by a legitimate, regulated business.

In addition to misusing the companys identity, the fake platforms promoted contact details that have no connection to the real firm. Some materials even referenced overseas locations such as London and Amsterdam, despite EGS Capital Limited having no business operations registered at those addresses. These tactics are commonly used in investment scams to give victims a false sense of international credibility.

The regulator also confirmed cases in which potential victims received letters that appeared to be official company correspondence. These documents used forged logos, letterheads and stamps, and were presented as being signed by compliance personnel. The messages demanded payment of alleged fees or charges, even though the real company had issued no such requests.

Authorities have made it clear that EGS Capital Limited is not linked in any way to the fake websites, email addresses or phone numbers used in the scam. While the specific domains already identified may no longer be active, regulators caution that similar copycat sites could appear again under different web addresses.

Investors are urged to avoid responding to unsolicited investment offers or payment requests that claim to come from regulated companies, especially when contact is made through unofficial websites or unknown communication channels. Before transferring any funds, individuals should independently verify company details through official regulatory registers and confirmed corporate websites.

Identified Scam Indicators

The scheme involved several common red flags seen in impersonation fraud cases, including the use of cloned websites, unauthorised contact information, fabricated payment demands and false claims of regulatory approval. These methods are designed to pressure victims into making quick transfers before they can verify the legitimacy of the request.

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In todays online trading environment, scam operations often combine fake branding with misleading regulatory claims. Platforms like WikiFX help investors verify broker licensing, regulatory status and historical risk records before engaging with any trading service. By checking official data sources and user exposure reports, traders can better identify warning signs and avoid potentially harmful platforms.