The Dubai Financial Services Authority is warning banks about a '419' scam that uses false documents purporting to be from its offices.

The scammers are promising consumers access to funding after the payment of an advanced fee. They are claiming that the DFSA must issue a "fund transfer certificate" to authorise the transfer of the funds, but it will only do so if each consumer pays it a fee.

The scammers are also providing consumers with false documents, bearing DFSA letterheads, which purport to relate to the clearance of funds in transit to the consumer. They also use false certificates of deposit.