Fraudsters target Punter Southall Wealth in clone scam

Financial planning firm targeted

Sophie King
clock • 2 min read

The Financial Conduct Authority (FCA) has issued a warning after fraudsters were found pretending to be the Punter Southall Wealth brand.

Unauthorised business has been appearing to be the actual FCA-authorised financial planning firm, the regulator said. The watchdog also said fraudsters were using or giving false information as part of their tactics to scam people in the UK. The FCA continued: "Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm. "This is what we call a 'clone firm' and fraudsters usually...

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Sophie King
Author spotlight

Sophie King

Professional Adviser journalist from 2018-2021

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