10 January, 2020 | AtoZ Markets – The Financial Conduct Authority (FCA) warns that the scammers are using a cloning company to impersonate Lincoln Finance Ltd. Whilst, the scammers are targeting people in the UK. The FCA issued a broker clone warning on Lincoln FX, in order to warn the public.
Last year, the regulator issued a similar warning of a clone firm that pretended to be the Ftradition. The clone firm of Ftradition was also using the same tactic as a similar name, email and web address.
Is Lincoln FX Scam or Reliable?
Today, the FCA said that a clone broker (Lincoln FX) had been used to give the impression that it works for the licensed company. However, the original Lincoln Finance does not offer FX trading services. But it operates as a financial broker, specializing in asset finance solutions to UK companies and individuals.
The fake site takes advantage of the company's reputation. Also, the fake site is featuring the official website address at the bottom of each web page and listing all its regulatory license numbers. The FCA-authorized broker is available at www.lincolnfinance.co.uk and has no association with the clone domain www.lincolnfx.capital.
Lincoln FX (Clone of FCA Authorized Firm)
FCA warned that scammers could give out other false data or mix it with some correct data of the registered company.
- Telephone: +442038685253
- Website: https://www.lincolnfx.capital
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Lincoln Finance Ltd (FCA Authorized Firm)
This FCA-authorized company that the scammers claim to work for has no connection with the clone company. It is authorized to offer and promote services or products in the United Kingdom and its correct data are:
- Firm Name: Lincoln Finance Ltd
- Firm Reference Number: 717074
- Address: 3A Old Cubley, Penistone, Sheffield, South Yorkshire, S36 9AW, United Kingdom
- Telephone: +44 01226767378
- Fax: +44 01226762485
- Email: email@example.com
- Website: https://www.lincolnfinance.co.uk/
Read More: New York Licensed Crypto Firms Will Need to Pay NYDFS Oversight Costs?
Clone Websites Mimic the Sites of Reputable Financial Entities
Moreover, some clone scammers contacted the FCA claiming to represent regulated companies. Also, the scammers were asking to change the contact details of the legitimate company on the register. Claiming that the data was out of date. As usual, this action aims to make the cloned company appear authentic and provides its phone number and website details to potential victims. So, traders will mistake it for the legitimate entity.
The regulator also released details of other unregulated firms that were recently discovered. The latest regulator's warning list includes:
- Trade Ltd,
- YORK CG,
- Guaranteed Fixed bonds,
- Fixed Return Investments,
- The Sovereign Bond Fund.
The FCA encourages traders, strongly advising against financing an account or investing through this specific company. Anyone who chooses to sign with the imposter must keep in mind that they will not receive assistance from the financial authorities in case things go wrong.
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