The FCA has warned against a cloned firm, ICO Crypto, which using details of the legitimate company, Swiss Re Capital Markets to scams potential victims in the UK.
June 10, 2021 | AtoZ Markets – The UK’s Financial Conduct Authority (FCA) has published a statement on its website saying scammers are using the details of a company it authorizes in a bid to defraud victims, labeling it a clone firm.
FCA ICO Crypto warning
In a warning issued Wednesday, the British watchdog said fraudsters operating as ICO Crypto are using an approved company’s Firm Reference Number (FRN) in an attempt to look like a legitimate business. Other details it gives out are false. The FRN it’s using belongs to Swiss Re Capital Markets, a unit of Swiss Re, one of the world’s largest reinsurers.
The financial watchdog also provided the following website as belonging to the clone of FCA authorized firm:
Be aware that scammers may give out other false details or mix these with some correct details of the registered firm. They may change contact details over time to new email addresses, telephone numbers or physical addresses.
In comparison, the FCA also outlines the details of the legitimate firm, in which ICO Crypto has cloned details of:
Firm Name: Swiss Re Capital Markets Limited
Firm Reference Number: 187863
Address: 30 St Mary Axe London, EC3A 8EP, UNITED KINGDOM
Telephone: 44 02079333000
“Be aware that scammers may give out other false details or change their contact details over time to new email addresses, telephone numbers, or physical addresses,” the FCA cautioned.
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