FCA Warns of Fraudulent Clone Companies Targeting People in UK

[kreslik.news]

The Financial Conduct Authority (FCA) issued a warning on Friday, regarding suspected fraudsters who are targeting individuals in the UK. The suspensions include hiding behind legitimately regulated companies, and providing people with these companies’ information as “proof” of regulation, despite not having any affiliation with them. The FCA proceeds to warn that “They may use the name of the genuine firm, the ‘firm reference number’ (FRN) we have given the authorised firm or other details.”

One of the companies headlined on the FCA website is called GalaFX Ltd., and it appears they are using details of an FCA regulated firm. The ... (read more)