“clone firm” and common fraud tactics

You should read and learn from the following FCA (UK) and EBA (European Banking Authority) warnings:

FCA EXAMPLE 1

FCA EXAMPLE 2

Fraudsters may use the name of a genuine regulated firm from the UK, the “firm reference number” (“FRN” is a number given by the FCA to a regulated entity in the UK) or other information of a real regulated entity.

The warning is valid for other jurisdictions (meaning, fraudsters may use the name of a genuine regulated firm from other Jurisdictions, the firm license number or other information of a real regulated entity).

In addition, the EBA’s name and logo are being used to validate email scams aiming at obtaining money or personal details. A wide series of scams falsely stating that they are issued by the EBA or its representatives. All recipients of fraudulent emails that claim to be sent by the EBA or its representatives are warned not to access any links within these emails or disclose any personal information or reply to them.

The EBA’s Scams are in all cases directed at prompting the recipient to provide money transfers and international payments, or identity verification for allowing financial transfers to enter the European Union (EU).

You can read the complete EBA’s warning at EBA alert over fraudulent scams on its behalf