The Securities and Commodities Authority (SCA) has issued a warning to the public, urging investors in the UAE to avoid dealing with an unlicensed entity operating under the name ‘Limited TRCFX’.
In an advisory released Tuesday, the SCA clarified that the firm is not authorized to conduct any financial services within the country. “The company is not licensed under the SCA’s regulatory framework,” the authority stated.
The agency emphasized that it holds no responsibility for any financial loss or agreements made with the said entity. Investors are strongly encouraged to verify the legitimacy of any company before transferring funds or entering contracts.
To prevent fraud, the SCA advised the public to consult its official website for the list of licensed financial institutions in the UAE.