The UAE has issued a warning about a Dubai-based company operating without a license, falsely presenting itself as a legitimate trading business, urging the public and investors to exercise caution.
UAE cautions against fraudulent Dubai firm masquerading as a legitimate trading business.
On Thursday, December 4, the UAE’s security authority issued an official alert to residents and the business community regarding a company operating in Dubai that is reportedly masquerading as a legitimate capital trading firm. According to the warning, the company, which identifies itself as Global Capital Securities Trading, is not licensed to conduct trading or financial services in the UAE. Authorities stressed that the firm’s activities could pose serious risks to individuals and investors, urging caution before engaging in any transactions or business dealings with the organisation.
The announcement highlighted that the unlicensed firm operates out of a Dubai-based representative office, claiming affiliation with Global Capital Market Limited. While the company presents itself as part of a broader, legitimate international trading network, regulatory authorities clarified that there is no official record of the company being authorised to provide investment, trading, or financial services within the UAE. Residents were specifically warned not to be misled by the company’s name or its purported connections, as these could create the impression of credibility that does not exist in reality.
Authorities emphasised that unlicensed firms such as Global Capital Securities Trading often attempt to attract investors and clients by presenting themselves as legitimate financial entities. In some cases, these firms may solicit funds, offer investment opportunities, or conduct transactions that can place individuals at financial risk. The UAE security authority reiterated that only firms registered with the appropriate regulatory bodies and holding the necessary licenses are authorised to operate in the capital markets and provide financial services in the country.
Residents and investors were advised to verify the credentials of any company claiming to operate in trading, investment, or capital markets before engaging in any transactions. This includes checking official registries and consulting with licensed financial service providers. Authorities warned that any engagement with unlicensed firms could result in financial loss or legal complications.
The alert serves as a reminder of the UAE government’s commitment to protecting residents and maintaining the integrity of its financial sector. Regulatory bodies continue to monitor unlicensed operations, take enforcement actions where necessary, and provide guidance to the public to prevent fraudulent activities. By issuing timely warnings, authorities aim to ensure that residents and investors remain vigilant and well-informed, avoiding exposure to companies that misrepresent their credentials or affiliations.
In conclusion, the UAE security authority’s warning against Global Capital Securities Trading is part of a broader effort to safeguard the public from unlicensed and potentially fraudulent operations. The company, operating from a Dubai-based representative office and claiming links with Global Capital Market Limited, does not hold official licensing in the UAE. Residents and investors are urged to exercise caution, conduct thorough checks, and only deal with verified, licensed entities to ensure the safety of their financial transactions.
The UAE’s Security and Commodities Authority (SCA) has issued an important advisory to investors regarding a company operating through the website www.gcfx24.com. According to the authority, this entity is not officially licensed or authorised to conduct any regulated financial activities within the country. Investors were warned that the firm is not permitted to offer financial services, investment opportunities, or any activities that fall under the scope of regulated financial operations.
The SCA emphasized that while the company presents itself as a legitimate financial service provider through its online platform, it has no official approval to operate in the UAE’s highly regulated financial market. This means any transactions, investments, or business dealings with the company could carry significant risk, including potential financial loss or exposure to fraudulent practices. Investors were advised to exercise caution and avoid engaging with any services offered through the website, as doing so would be outside the legal and regulatory framework established by UAE authorities.
Authorities also highlighted that unlicensed financial entities often attempt to attract clients by portraying themselves as legitimate, sometimes using professional-looking websites, official-sounding names, or claims of international affiliations. However, without proper licensing, these companies operate illegally, and there is no regulatory oversight to protect those who invest with them.
The SCA’s alert serves as a reminder for all investors to verify the credentials of any company claiming to provide financial or investment services. This includes checking official registries, consulting with licensed financial service providers, and ensuring that any firm they engage with is approved to operate under UAE law. By issuing this warning, the authority aims to protect investors from unlicensed operators and maintain the integrity of the country’s financial sector.
In summary, the Security and Commodities Authority has clarified that the company behind www.gcfx24.com is unauthorised to conduct regulated financial activities, and investors are strongly advised to refrain from any involvement with the firm to avoid legal or financial risks.
The Security and Commodities Authority (SCA) of the UAE has issued a firm warning to the public and investors regarding dealings with certain unlicensed entities operating within the country. In its recent advisory, the authority made it clear that it does not assume any responsibility for transactions, investments, or business conducted with companies that operate without the proper licenses or regulatory approvals. Specifically, the SCA highlighted the risks associated with engaging with firms that present themselves as legitimate financial service providers while lacking the necessary legal authorisation to operate in the UAE.
The authority pointed to a particular case involving a company using the website www.gcfx24.com. Investors were explicitly warned that this company is not authorised to offer regulated financial services or conduct any activities that fall under the UAE’s financial oversight framework. The SCA emphasised that any engagement with the company—whether through investment transactions, trading activities, or other financial dealings—would be undertaken entirely at the investor’s own risk, without any legal recourse or protection.
The alert from the SCA follows a separate advisory issued on December 3, in which the authority identified another unlicensed entity operating in the UAE. This company, using the name Gulf Higher Authority for Financial Conduct, was found conducting business through the website www.financialgcc.com. The firm falsely presented itself as a recognised financial regulator, misleading investors into believing that it operated under official authority. The SCA stressed that the entity has no connection to the UAE’s regulatory framework and is not sanctioned to carry out any financial supervisory functions or investment activities in the country.
Authorities explained that such unlicensed entities often use deceptive tactics to gain the trust of investors, including professional-looking websites, official-sounding names, and claims of regulatory oversight. These tactics are designed to create an impression of legitimacy, but in reality, they operate outside the law, leaving investors vulnerable to financial loss, fraud, and other risks. The SCA strongly urged the public to exercise extreme caution when dealing with any company that is not properly licensed or registered with the UAE’s financial authorities.
The repeated warnings underscore the SCA’s commitment to maintaining the integrity of the country’s financial sector. By alerting investors to these unlicensed operators, the authority aims to prevent financial crimes, protect consumers, and ensure that only licensed and regulated entities conduct business within the UAE. Investors were advised to verify any company’s credentials before engaging in transactions, check official registries, and consult licensed financial service providers to confirm legitimacy.
In summary, the SCA clarified that it does not take responsibility for any dealings with unauthorised companies or the use of their websites. Recent cases, including www.gcfx24.com and www.financialgcc.com, illustrate the need for vigilance, as these entities falsely claim regulatory authority or operate without proper licences. Investors are urged to remain cautious, conduct thorough checks, and only interact with firms legally authorised to operate within the UAE’s financial system, ensuring both the security of their funds and compliance with local laws.
The Security and Commodities Authority (SCA) serves as the UAE’s federal regulatory body responsible for overseeing the nation’s financial markets. Its mandate covers a wide range of functions, including the licensing of investment firms, brokers, and other financial service providers operating within the country. Beyond granting approvals, the authority also monitors the activities of these entities to ensure they adhere to established legal and regulatory standards. By supervising conduct across the financial sector, the SCA plays a critical role in maintaining the integrity, transparency, and stability of the UAE’s financial system.
As part of its ongoing efforts, the SCA regularly issues public advisories and alerts. These notifications are designed to educate investors and the general public about the risks posed by unlicensed operators, fraudulent firms, and websites that falsely claim to offer financial services. Such alerts help individuals identify entities that operate without proper authorization and warn against dealing with companies that may be engaging in deceptive practices. The authority also monitors and exposes cloned websites, which are online platforms that imitate legitimate financial institutions in order to mislead investors and solicit funds. By providing timely information, the SCA empowers residents and businesses to make informed decisions and avoid potential financial losses.
The scope of the SCA’s responsibilities is extensive. It not only grants licenses to legitimate financial entities but also conducts routine inspections and compliance checks to verify that these organizations operate in accordance with UAE law. Should any breaches or irregularities be detected, the authority has the power to take enforcement action, which may include fines, sanctions, or the suspension of business activities. Through these measures, the SCA ensures that licensed firms maintain high standards of professionalism, transparency, and ethical conduct.
Education and public awareness are central to the authority’s mission. Recognizing that investors can sometimes be vulnerable to schemes run by unlicensed or fraudulent operators, the SCA prioritizes clear communication about potential threats in the financial marketplace. Regularly publishing alerts, guidance notes, and official warnings helps the public distinguish between legitimate service providers and those operating illegally. This proactive approach protects not only individual investors but also the broader financial system from reputational and operational risks.
In addition, the SCA collaborates with other regulatory and law enforcement agencies, both within the UAE and internationally, to combat financial fraud and ensure that unlicensed activities are swiftly addressed. These partnerships enhance the authority’s ability to monitor the market effectively, detect suspicious operations, and respond decisively to any violations.
Overall, the Security and Commodities Authority plays a vital role in the UAE’s financial ecosystem. By licensing firms, supervising operations, enforcing compliance, and issuing public alerts, it ensures that financial markets function smoothly, transparently, and safely. Its ongoing efforts to identify unlicensed operators and highlight cloned websites reflect a commitment to investor protection and the long-term stability of the nation’s financial system, helping residents and businesses make informed, secure, and legally compliant investment decisions.
