FCA warns consumers of cloned firms

The Financial Conduct Authority (FCA) has warned consumers to look out for fraudsters who are saying they work for AMAC Mortgages.

FCA warns consumers of cloned firms

The watchdog announced this week (September 27), that fraudsters have been using the details of the FCA authorised firm to cold call consumers to sell products or services.

The FCA said this type of scam is known as ‘cloning’. Scammers try to convince consumers they work for a genuine firm by stating the authorised firm’s registration number, the authorised persons of the firm and its address to possible customers.

In this case, scammers had been using AMAC Mortgages’ details but slightly changed the real website and email addresses to direct consumers to their fake website.

They had also used an old address of the real firm to appear genuine, a tactic the FCA said it is increasingly seeing.

The FCA also said it has found scammers claiming to be firms from overseas. Overseas firms on the FCA register do not always have their full contact and website details listed – something the scammers are taking advantage of.

The FCA has published details on this scam tactic and how to protect consumers from clone firms.