FCA issues alerts over three fake firms

Fraudsters use the details of firms the FCA authorises to try to convince people that they work for a genuine, authorised firm. In these 'clone' firms fraudsters usually use this tactic when contacting people out of the blue. The FCA has warned investors to be especially wary if they have been cold called. The fraudsters may use the name of the genuine firm, the 'firm reference number' (FRN) the FCA has given the authorised firm or other details. Investors who give money to an unauthorised firm will not be covered by the Financial Ombudsman Service or Financial Services Compensa...