Another clone added to the FCA blacklist


FCA-logo22 July, AtoZForex.com, Lagos- The Financial conduct authority has again discovered a ‘clone firm’. The regulator reiterated that fraudsters usually use this tactic when contacting people out of the blue. It therefore warned the general public to be especially wary if you have been cold called. They may use the name of the genuine firm, the ‘firm reference number’ (FRN) we have given the authorized firm or other details.

Recently, the regulator also added a new firm to the FCA Blacklist. This time, the pick is Switzerland’s largest bank, UBS. The clone firm which operates via the website www.ubs-pb.com, also operates under the name UBS Wealth Management. This is an obvious attempt at defrauding unsuspecting individuals. Other tactics used by these firms include cold calling clients and mass emails sent out to individuals in an attempt to extract money or information. In some cases, such clone firms mix real information from the original company with fake information.

In the latest case of such operations, a Stanley Ball Limited clone has been discovered. The clone firm uses the exact same name as the genuine UK registered firm. The watchdog therefore stated that: This clone firm is passing itself off as Stanley Ball Limited. Stanley Ball Limited is not authorized by the FCA but does not carry on any regulated activities. The legitimate Stanley Ball Limited has no association with the ‘clone firm’.”

A distinction in the information of both firms have been clarified below:

Genuine firmClone firm
Company name: Stanley Ball Limited
UK company registration number: 00706100
Address: Cawley Place, 15 Cawley Road, Chichester, PO19 1UZ 
Website: www.stanley-ball.co.uk.

Stanley Ball Limited (clone of UK registered company)

Address: 17 Hanover Square, London, W1S 1HU

Phone number: 020 7060 9903

Fax number: 020 7060 9923

 

They have advised that If you think you have been approached by an unauthorized or clone firm, or contacted about a scam, you should immediately contact the FCA. If you were offered, bought or sold shares, you can also use the shares reporting form on the regulator’s website. Also, If you think your authorized firm has been cloned or scammers are fraudulently using your name or other details, contact our Firm Helpline on 0300 500 0597.

 

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