UAE SCA Issues Warning on Unlicensed Firm and Instagram Influencer
UAE Regulator Warns Investors About Unlicensed Firms and Social Media Influencers
The Securities and Commodities Authority (SCA) has issued a firm warning to UAE investors, urging caution when dealing with unlicensed financial companies and online personalities promoting trading expertise.
Unlicensed Company: Top Profit Marketing Services
The SCA identified Top Profit Marketing Services as an unlicensed firm falsely presenting itself as a financial services provider. Despite lacking approval to offer investment activities in the UAE, the company has been actively marketing to potential investors.
The regulator stressed it bears no responsibility for transactions with such entities. Investors risk losing funds without any regulatory protection and are advised to confirm a companyās license via the official SCA website or by contacting the authority directly.
Social Media Influencer āborajbā
In a separate advisory, the SCA flagged an Instagram influencer operating under the name borajb ā including accounts borajb_trade and borajb_crypto ā for promoting trading strategies without authorisation.
The SCA clarified that borajb is not registered as a licensed financial influencer or adviser, warning that unverified online recommendations pose significant risks.
Dangers of Unverified Advice
The SCA highlighted common hazards of relying on unlicensed sources:
Fraudulent schemes promising unrealistic returns
Misleading claims of guaranteed profits
Lack of accountability and legal recourse once funds are transferred
Investors are urged to seek guidance only from licensed financial advisors, regulated brokers, and accredited influencers listed on the SCAās official channels.
Heightened Market Vigilance
This alert reflects the UAEās broader effort to curb scams as online trading and cryptocurrency platforms grow. Regulators worldwide, including the SCA, are tightening rules around digital marketing and influencer-led promotions.
āProtecting your capital starts with ensuring you deal only with authorised and regulated service providers,ā the SCA stated.
The authority continues to publish an updated list of accredited influencers and licensed firms to help the public verify credentials before investing.
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