Scam Alert – New Scams Spotted in the UK

A lot of consumers are not aware of the fact that all the companies that provide financial services have to be registered or authorized by certain financial authorities and regulatory bodies. In the UK it’s the FCA (The Financial Conduct Authority) that operates independently and takes responsibility for the functioning of the financial markets in the United Kingdom.

Kindly note that the following types of service have to be registered or authorized by the FCA, so in order to be legally protected make sure that the service you are dealing with is fully approved. Registration or authorization by The Financial Conduct Authority is mandatory for:

  • Banks, building societies, and credit unions
  • Claims management companies
  • Consumer credit firms
  • Electronic money and payment institutions
  • Financial advisers
  • Fintech and innovative businesses
  • General insurers and insurance intermediaries
  • Investment managers

In fact, unauthorized companies or individuals carrying out financial services activities can be considered fraud. Recently the FCA spotted several new scam companies operating in the UK and claiming to be an authorized firm. The FCA and Scam Help highly recommends you to stay away from the mentioned firms, especially if fraudsters contact you out of the blue.

The FCA warns the UK citizens about the following ongoing scams:

  • Stanwood Corporate Partners
  • FR Savings
  • Find A Fixed Rate Bond
  • On Move Ltd trading as Fixed Rate market UK Limited
  • M365FX
  • AOX Capitals / AOX Trade
  • New Traders Holdings/New Traders Holdings FX
  • Superfive / Super-five / Super5 trading name of PivoTech Global Ltd
  • Paragon Finance
  • 4TFX
  • Markets Pilot
  • Any1Pro
  • MrGuru / Mr Guru
  • Market Pluse / IQ Global Evolution Ltd
  • 24 News Trade
  • Coin Life / CoinLife
  • TradeTime / Trade Time (trading name of Capital Process Ltd)
  • Q Teck

Lost money dealing with mentioned companies or other investment scams? Feel free to contact us to get a free consultation with a team of professional bank fraud specialists who can help you to retrieve your funds!  

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