Fraudsters target Punter Southall in clone scam

Financial planning firm targeted

Sophie King
clock • 2 min read

The Financial Conduct Authority (FCA) has issued a warning after fraudsters were found to be feigning the Punter Southall brand.

Unauthorised business buy.lidlbond.com has been appearing to be the actual FCA-authorised financial planning firm, the regulator said. The watchdog also said fraudsters were using or giving false information as part of their tactics to scam people in the UK. The FCA continued: "Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm. "This is what we call a 'clone firm' and fraudsters usually...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Your profession

SJP's succession: Five priorities for the next chief executive

SJP's succession: Five priorities for the next chief executive

Advice giant has employed head hunters to search for a new leader

Justin Cash
clock 02 June 2023 • 3 min read
Wren Sterling expands Northern reach as it acquires Callisto Wealth

Wren Sterling expands Northern reach as it acquires Callisto Wealth

Strategic move to bolster Wren Sterling's position in the wealth management sector

Sahar Nazir
clock 02 June 2023 • 1 min read
FCA joint executive director of enforcement and market oversight Therese Chambers

FCA says it handed down £216m in penalties in 2022/23

FCA reveals it is investing in technology to improve investigations

Sahar Nazir
clock 01 June 2023 • 1 min read