The UK's financial services regulator has warned of a suspected clone firm claiming to be affiliated with a previously registered entity. In a notice
The UK’s financial services regulator has warned of a
suspected clone firm claiming to be affiliated with a previously registered entity. In a notice published today (Friday), the Financial Conduct Authority (FCA) mentioned that it had not authorized forexeze.com and forex-eze.com to offer its services.
The FCA added that the suspected clone entity has been
reaching out to individuals, presenting itself as a legitimate financial
service provider.
Clone firms use various deceptive tactics, mimicking
authorized entities’ details to appear genuine. They often replicate authorized firms’ names, email addresses, and websites, making it challenging for individuals
to notice their fraudulent nature. Forexeze.com and forex-eze.com utilize email addresses such as [email protected] and [email protected],
the regulator noted.
However, the details of the authentic firm are
Forexeze Limited, which holds the FCA Firm Reference Number 809435 and operates
from the Scottish Provident House in Harrow, Middlesex. The firm’s telephone
number is +442088613040, and its email address is [email protected].
Source: FCA
Risks Associated with Dealing with Clone Firms
The FCA has warned users that engaging with clone
firms exposes individuals to significant risks. Unlike authorized entities,
clone firms do not offer regulatory protection or access to dispute resolution
mechanisms like the Financial Ombudsman Service. Additionally, clients are not
covered by the Financial Services Compensation Scheme.
Besides that, the regulator has urged users to verify the authorization status of any firm they wish to deal with through the FCA’s Financial Services Register
before engaging in any transactions.
Elsewhere, the Financial Markets Authority (FMA) of
New Zealand is fighting against fraudulent activity and scams within the
financial markets. Recently, the regulator took significant actions to
safeguard consumers and maintain market integrity.
The FMA canceled Equitise Pty Ltd’s crowdfunding
license and issued a warning against AxonExchange, a cryptocurrency trading
provider. Equitise, a licensed equity crowdfunding service provider since 2014,
faced license cancellation for the alleged breach of compliance obligations. The company reportedly failed to provide financial reports and presented late annual confirmation filing.
The UK’s financial services regulator has warned of a
suspected clone firm claiming to be affiliated with a previously registered entity. In a notice published today (Friday), the Financial Conduct Authority (FCA) mentioned that it had not authorized forexeze.com and forex-eze.com to offer its services.
The FCA added that the suspected clone entity has been
reaching out to individuals, presenting itself as a legitimate financial
service provider.
Clone firms use various deceptive tactics, mimicking
authorized entities’ details to appear genuine. They often replicate authorized firms’ names, email addresses, and websites, making it challenging for individuals
to notice their fraudulent nature. Forexeze.com and forex-eze.com utilize email addresses such as [email protected] and [email protected],
the regulator noted.
However, the details of the authentic firm are
Forexeze Limited, which holds the FCA Firm Reference Number 809435 and operates
from the Scottish Provident House in Harrow, Middlesex. The firm’s telephone
number is +442088613040, and its email address is [email protected].
Source: FCA
Risks Associated with Dealing with Clone Firms
The FCA has warned users that engaging with clone
firms exposes individuals to significant risks. Unlike authorized entities,
clone firms do not offer regulatory protection or access to dispute resolution
mechanisms like the Financial Ombudsman Service. Additionally, clients are not
covered by the Financial Services Compensation Scheme.
Besides that, the regulator has urged users to verify the authorization status of any firm they wish to deal with through the FCA’s Financial Services Register
before engaging in any transactions.
Elsewhere, the Financial Markets Authority (FMA) of
New Zealand is fighting against fraudulent activity and scams within the
financial markets. Recently, the regulator took significant actions to
safeguard consumers and maintain market integrity.
The FMA canceled Equitise Pty Ltd’s crowdfunding
license and issued a warning against AxonExchange, a cryptocurrency trading
provider. Equitise, a licensed equity crowdfunding service provider since 2014,
faced license cancellation for the alleged breach of compliance obligations. The company reportedly failed to provide financial reports and presented late annual confirmation filing.
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