Saudi Gazette report

RIYADH — Saudi Arabia's Capital Market Authority (CMA) has warned investors in the Kingdom against dealing with scammers claiming that they are employees at Securities and Commodities Authority (SCA) in the United Arab Emirates (UAE).

The CMA has stated that investors must be careful to avoid becoming a victim of any fraud or scams.

The CMA confirmed that its counterpart in the UAE had noticed recently that there are some people communicating with investors in Saudi Arabia claiming that they are employees in the UAE' Securities and Commodities Authority, which the SCA confirmed that this is not true.

It is noteworthy that the SCA in the UAE has warned during the past month against being drawn and drifting into these communications, warning everyone against dealing with fraudulent callers to avoid being defrauded.

The CMA indicated that the communication process with its employees would be only through the contact data published on its website.