Scammers create fake FSA register to dupe consumers

clock

The Financial Services Authority (FSA) is warning consumers of a new tactic adopted by fraudsters - setting up fake versions of its website and register.

The regulator said it had recently seen bogus versions of its register showing the contact details of ‘cloned' businesses rather than those of the genuine, authorised firms the scammers claimed to work for. Previously, fraudsters tended to go for the easier option of simply claiming to work for firms authorised by the FSA. To add credence to their claims, some fraudsters even attempted to change the contact details of authorised firms on the FSA register to show the phone number, address and website details they were giving to scam targets. Now, some are attempting to create fake r...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Wealth managers

St James's Place results lay bare cost and charging challenges against market tumult

St James's Place results lay bare cost and charging challenges against market tumult

'Structural opportunity' for advice industry

Hope Coumbe
clock 28 February 2024 • 3 min read
SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

Open-ended structures 'have to work'

Valeria Martinez
clock 01 December 2023 • 2 min read
M&G launches full PruFund range on Wealth platform

M&G launches full PruFund range on Wealth platform

‘Greater flexibility and wider choice’

Valeria Martinez
clock 22 May 2023 • 1 min read
Trustpilot