One other day, one other greenback. Besides, within the monetary trade, it’s extra like one other day, one other rip-off. At this time, the Monetary Conduct Authority (FCA) has but once more up to date its warning record so as to add a brand new contender.
This time, it’s Capital Markets, which matches by the title of Mayfair Capital Markets. Based on the warning from the FCA, the entity is a so-called clone agency, that’s, an organization which fraudulently copies particulars of a legit firm to trick folks into parting with their hard-earned money.
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On its web site http://www.mayfaircapitalmarketsltd.com/, the fraudsters try to look as if they’re Mayfair Capital Markets Ltd, an FCA-registered funding administration agency. The obvious means the scammers are doing that is by utilizing an nearly similar title and claiming to supply related companies.
One tactic clone companies use to trick traders into believing they’re the legit agency is by mixing the faux and actual particulars collectively. Mayfair Capital Markets Ltd, the regulated agency, is positioned at 23-24 Berkeley Sq., London, W1J 6HE. Its agency quantity with the FCA is 806318.
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As may be seen on the clone agency’s web site, they’ve copied the handle of the legit firm. The FCA warns that these are frequent techniques that traders ought to pay attention to. Typically clone companies even copy the registration particulars to look credible.
Based on its web site, the clone agency claims to supply funding administration companies and recommendation. This ranges from property planning, wills, retirement planning and extra. Nonetheless, residents of the UK ought to keep away from coping with this firm altogether.
FCA Blacklists World Techno Commerce
On Tuesday, the FCA additionally warned in opposition to one other clone agency – World Techno Commerce, a clone agency of True Commerce Restricted. When looking on the fraudster’s web site, the corporate is claiming to be related to the approved agency True Commerce Restricted, and it’s utilizing the corporate’s FCA registration quantity to make itself seem as legit.
Because of this, the British regulator urges warning when coping with this agency.