The UK’s Financial Conduct Authority (FCA) has issued a warning to the public today against a binary options brand illegally cloning the identity of a British firm. Ebor Option fraudulently displays the logos of the FCA and its New Zealand counterpart in its website as well as the Firm Registration Number of an unrelated company.
The UK watchdos said that Ebor Option, “is what we call a clone firm.” Fraudsters are using the details of firms the FCA authorise to try to convince people that they work for a genuine, authorised firm. Fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called.
Ebor Option seems to be another binary options brand using this illegal tactic to target traders, Chinese speakers especially. The domain of the website (www.eblbo.co.nz) is registered under Liu Fang from China.
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The real Ebor Trustees Limited is a British firm from York, North Yorkshire.
This is how the brand describes itself on it site: “EBOR OPTION by the UK Financial Services Authority and the Monetary Authority of New Zealand dual supervision, at the same time as a binary options broker, is by having extensive experience in risk management, foreign exchange market, options market, investment management, financial derivatives, investment banking and IT technology and corporate composition, dedicated to providing customers worldwide with the online binary options trading services.”
The UK Financial Services Authority was the predecessor to the FCA, showing that the fraudsters are not even up to date with the regulations they break.