The UK Financial Conduct Authority (FCA) just added to its warning list the clone firm Goldmans Banc. According to the FCA, the entity is not authorized to sell, promote or advise on the sale of shares and other investments in the UK.
11 February, 2020 | AtoZ Markets – The Financial Conduct Authority (FCA) has issued a series of warnings against suspected financial scams, including a clone of a financial advisory firm. The FCA has, in particular, warned against Goldmans Banc. The entity is a clone of an FCA registered company - GMB Portfolio Services Limited, which provides financial advisory services.
Clone Firm Goldmans Banc
Goldmans Banc claims to be an e-commerce provider on its website, www.goldmans.io. According to this site, the entity offers many assets to trade, including currencies (forex), cryptocurrencies, commodities, indices and much more. On its website, the entity states:
"Goldman Banс was founded by Swiss financial experts. The company is a leading global brand which provides services for working in the financial market. However, the most important thing for successfully trading and generating income is choosing the right broker. Goldmans Banc is the same broker. This broker has also come a long way to provide the opportunity to trade financial instruments with narrow spreads for the major currency pairs.
According to the website, it is owned and managed by Milmo Group LTD. Its registration number is 25602 BC 2019 and the registered address: Suite 305, Griffith Corporate Center, Beachmont, Kingstown St. Vincent and the Grenadines. Mason Baker, its CEO, also said on the website:
We do our best for the company to grow and gain new benefits. Our team is helping traders to invest and make money through fast, quality trading.
Clone of FCA Authorised Firm Details
Fraudsters use or give the following details as part of their UK scam tactics:
- Firm Name: Goldmans Banc (clone of FCA authorized firm)
- Address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, the Grenadines
- Email: email@example.com, firstname.lastname@example.org
- Website: www.goldmans.io
Traders and investor should be aware that scammers may give false information or change their contact information over time to new email addresses, phone numbers or physical addresses. The regulator also warned in its statement today:
Almost all companies and individuals who carry out financial services activities in the UK must be authorized or registered by FCA. FCA does not authorize or register this company, but it has targeted people in the UK, claiming to be an authorized firm.
FCA Authorised Firm Details
This company authorized by the FCA for which the fraudsters claim to work no link with the "clone company". It also has the authorization to offer, promote and sell services or products in the United Kingdom and its exact contact details are:
- Firm Name: GMB Portfolio Services Limited
- Firm Reference Number: 738159
- Address: Unit 14, Grampion Court, Beveridge Square, Livingston, West Lothian, EH54 6QF
- Telephone: 0131 271 5904
- Email: email@example.com
- Website: www.gmbportfolio.co.uk
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FCA Strongly Advise Traders and Investor
Fraudsters are now using the details of FCA authorized firms to persuade people that they are genuine, authorized firm. FCA strongly advise traders and investor to only deal with financial services companies that FCA have authorized and check the register to ensure. It also said:
Fraudsters usually use this type of tactic when contacting people out of the blue. They can use the name of the real firm, the "business reference number" (FRN) that we gave to the licensed firm or other details.
Trader should ask them for their reference number and contact information to verify the identity of an authorized firm. Moreover, if there are no contact details in the register or if the company claims that they are out of date, contact FCA consumer helpline on 0800 111 6768.
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