Fraudster alert: FCA warns on four investment firm clones

The Financial Conduct Authority (FCA) has issued a warning to investors about four firms that are unauthorised clones of legitimate businesses.

Cloning firms use similar names and websites to FCA regulated businesses in order to trick people into thinking they are legitimate. The FCA has raised the alarm over four already in the first few days of May - Helmut Studer, South Coatbridge Credit Union Bank, Industrial and Commercial Bank of China, and Ebor Trustees Limited. Meanwhile, Aldershire Limited/ Aldershire Capital/ Aldershire Global Trading was also named by the regulator as an unauthorised firm that investors should avoid. "Fraudsters are using the details of firms we authorise to try to convince people that they work...