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The UK’s Financial Conduct Authority (FCA) today published a statement warning investors against dealing with a web-based entity posing as a UK-based investment company, Frans Ternier.
Frans Ternier is referred to by the FCA as a ‘clone firm’, a tactic used by fraudsters when contacting people out of the blue and claiming to be a regulated company. The watchdog has advised the public to be especially wary in the case of cold-calls by such companies. Clone firms are known to use the name of a genuine firm, whose firm reference number (FRN) or address they use and claim as their own.
Fraudsters are using the details ... (read more)