FCA warns of ICO Crypto – clone of FCA authorized firm – is scamming impersonating companies authorized to defraud users
According to a warning from the Financial Conduct Authority (FCA), fraudsters are using the details of companies they authorize to try to convince people that they work for a genuine, authorised firm. And this time, this clone firm is called ICO Crypto, using a reference image that is 100% identical to the authorized company, Swiss Re Capital Markets Limited.
FCA warns of ICO Crypto is scamming impersonating companies authorized to defraud users
Almost all companies and individuals carrying out financial services activities in the UK must be authorized or registered by the FCA. However, the Crypto ICO is not an authorized or registered company but has targeted people in the UK claiming to be an authorized company.
“This is what we call a ‘clone firm’; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold-called. They may use the name of the genuine firm, the ‘firm reference number’ (FRN) we have given the authorized firm or other details.”
Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK:
- Crypto ICO (copy of FCA authorized company)
- Website: http://swisscoinmarket.com
Be aware that scammers may give out other false details or mix these up with some of the correct details of the registered company. They can change the contact details from time to time to a new email address, phone number, or physical address.
This FCA authorized company the scammers are claiming to work for has no connection to the clone firm. It is authorized to offer, promote or sell services or products in the UK and its exact details are:
- Firm Name: Swiss Re Capital Markets Limited
- Firm Reference Number: 187863
- Address: 30 St Mary Axe London, EC3A 8EP, UNITED KINGDOM
- Telephone: 44 02079333000
- Email: email@example.com
- Website: http://www.swissre.com/reinsurance/insurers/ils/Swiss_Re_Capital_Markets_Insurance-Linked_Securities.html
At this time, the FCA recommends that people only deal with financial companies authorized by us and check the Financial Services Registry to be sure.
“If a firm does not appear on the Register but claims it does, contact our Consumer Helpline on 0800 111 6768. If you use an unauthorized firm, you won’t have access to the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) so you’re unlikely to get your money back if things go wrong.”
If you believe you have been approached or contacted by an unauthorized or cloned company about a scam, you should contact the FCA immediately.
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