FCA Flags Two Clone Firms and Three Unauthorised Brokers

[kreslik.news]

The Financial Conduct Authority (FCA) has posted a series of warnings on its website which blacklists five unauthorised firms, including two clone firms – Orbit Investment Services and Loan Skipper. The other three flagged companies are Olimp Finance, Ostrich Capital and Brokerz Union.

The first warning is against Orbit Investment Services, which is a clone of an FCA authorised firm Orbit Investment Securities Services Plc. Clone firms often take similar, if not identical names of authorised companies in order to trick consumers into thinking they are the legit company. These scammers prefer to cold call ... (read more)