14 February, 2020 | AtoZ Markets – The scammers are becoming more sophisticated. Moreover, they use the brands of legitimate and regulated companies, and even cloned websites, to lure people into investing. The number of warnings issued by the FCA about unauthorized firms has also increased significantly over the past year. However, it is raising concerns about investors being exposed to scams.
FCA Warning list
UK regulator FCA has released the details of several cloned companies this week. The names of the latest companies are ATUK, China Citic Bank, Assetz Capital, Bitsmax, First Choice Finance, Goldmans Banc.
Moreover, FCA said those entities use the name of the authentic firm, the firm reference number (FRN) or other details that FCA gave to the authorized one. They also try to convince people that they are working for a real licensed broker or company. However, the company licensed by the FCA for which the fraudsters claim to work no link with the “clone company”. Furthermore, Fraudsters use or give the following details:
ATUK (Clone of FCA Authorized Firm)
- Website: atfx-uk.com
- Address: Unit G25 Waterfront, Studios 1 Dock Road, London
- Email: firstname.lastname@example.org; email@example.com
China Citic Bank (Clone of FCA Authorized Firm)
- Website: www.cnbiinternational.com
- Address: 53 London Bridge Road, London, SE1 9GF
- Telephone: 0800 862 0971
- Email: Michael.Tarvin@cnbiinternational.com, firstname.lastname@example.org
Assetz Capital (Clone of FCA Authorized Firm)
- Website: www.assetzcapital.eu
- Telephone: 01618504627
- Email: email@example.com
Bitsmax / Bits Max Ltd (Clone of FCA Authorized Firm)
- Website: www.bitsmax.ltd, www.bitsmaxlimited.com
- Address: Third Floor, 20 Old Bailey, London, EC4M 7AN, 18 Watford Way, London, NW4 3AD
- Telephone: 0208 089 9040
- Email: firstname.lastname@example.org
First Choice Finance (Clone of FCA Authorized Firm)
- Website: www.first-choice-finance.co.uk
- Address: 97 St John’s Hill, London, SW11 1SY
- Telephone: 0203 332 0039
- Email: email@example.com, firstname.lastname@example.org
Goldmans Banc (Clone of FCA Authorized Firm)
- Website: www.goldmans.io
- Address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines
- Email: email@example.com, firstname.lastname@example.org
Nick Bayley, GM at Duff & Phelps, also warned that the Internet is playing an important role in the rise of clone and scam companies in the financial services industry. Moreover, Mark Steward, executive director of FCA, said:
Investment scams are becoming more sophisticated. Moreover, scammers are using false credentials to look legitimate. The FCA is working more than ever to help protect the public from this threat. Last year, FCA posted more than 360 warnings about potentially fraudulent businesses. Furthermore, we wants to spread the word so that we can all better protect ourselves from investment scams.
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He also said before you invest, do your homework. However, always check the FCA register to make sure you are dealing with an authorized firm. Moreover, use the contact details on the FCA register, not the contact information that the company gives you. Also, check the FCA warning list to avoid clone.
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