Last week, the FCA revealed that a total of 54 entities were issued warnings.
If approached by an unauthorized or clone firm, individuals are urged to reach out to the FCA.
The
Financial Conduct Authority (FCA), the regulatory body for financial services
in the UK, has issued a warning to the public about an unauthorized "clone
firm" that is posing as an authorized financial services provider, IG Markets Limited, a UK-listed broker.
Genuine
vs. Imposter: FCA's Warning about Clone Firm
The
clone firm, operating under the name "ICT Market 24" and using the
website "ictmarket24.com", falsely claims to be an FCA authorized
firm. The FCA has identified this fraudulent entity as a potential threat to
consumers who may unknowingly deal with them.
The FCA has discovered that fraudsters may also
provide other fictitious details, such as email addresses, telephone numbers,
postal addresses, and Firm Reference Numbers, to create a false sense of
legitimacy.
These
deceptive tactics may be mixed with genuine details of authorized financial
firms, making it more challenging for individuals to distinguish between
legitimate and fraudulent entities.
One
of the key concerns raised by the FCA is that individuals who deal with
unauthorized or clone firms may not have access to important safeguards. If a
problem arises in their dealings with these cloned firms, they won't have recourse to
the Financial Ombudsman Service, and they won't be protected by the Financial
Services Compensation Scheme. This lack of protection means that
individuals are at risk of losing their money if the firm they are dealing with
goes out of business.
To
ensure the legitimacy of any financial service provider, individuals are
encouraged to check the Financial Services Register maintained by the FCA. This
register provides information about authorized firms, details on the protection
consumers can expect, and contact information for authorized firms.
If
individuals are contacted unexpectedly by a financial business or individual,
they are urged to verify the legitimacy of the communication using the contact
details found on the FCA's Financial Services Register.
This
warning from the FCA serves as a reminder of the vigilance necessary when
dealing with financial service providers and underscores the importance of
verifying the authorization and legitimacy of firms operating in the financial
industry.
Finalto
Pro vs. Finalto Financial Services Limited: Distinguishing Fact from Fraud
A
tweet from the FCA revealed that a total of 54 entities were warned as
unauthorized or clone firms last week. Finance Magnates reported
that the
FCA had raised concerns about Finalto Pro, a suspected clone firm falsely
claiming an association with FCA-regulated Finalto Financial Services Limited.
Finalto Pro employs deceptive tactics, including using the same name, email and website as the legitimate entity.
The
FCA has warned consumers that engaging with Finalto Pro leaves them without
protection from the Financial Ombudsman Service and the Financial Services
Compensation Scheme.
The
Financial Conduct Authority (FCA), the regulatory body for financial services
in the UK, has issued a warning to the public about an unauthorized "clone
firm" that is posing as an authorized financial services provider, IG Markets Limited, a UK-listed broker.
Genuine
vs. Imposter: FCA's Warning about Clone Firm
The
clone firm, operating under the name "ICT Market 24" and using the
website "ictmarket24.com", falsely claims to be an FCA authorized
firm. The FCA has identified this fraudulent entity as a potential threat to
consumers who may unknowingly deal with them.
The FCA has discovered that fraudsters may also
provide other fictitious details, such as email addresses, telephone numbers,
postal addresses, and Firm Reference Numbers, to create a false sense of
legitimacy.
These
deceptive tactics may be mixed with genuine details of authorized financial
firms, making it more challenging for individuals to distinguish between
legitimate and fraudulent entities.
One
of the key concerns raised by the FCA is that individuals who deal with
unauthorized or clone firms may not have access to important safeguards. If a
problem arises in their dealings with these cloned firms, they won't have recourse to
the Financial Ombudsman Service, and they won't be protected by the Financial
Services Compensation Scheme. This lack of protection means that
individuals are at risk of losing their money if the firm they are dealing with
goes out of business.
To
ensure the legitimacy of any financial service provider, individuals are
encouraged to check the Financial Services Register maintained by the FCA. This
register provides information about authorized firms, details on the protection
consumers can expect, and contact information for authorized firms.
If
individuals are contacted unexpectedly by a financial business or individual,
they are urged to verify the legitimacy of the communication using the contact
details found on the FCA's Financial Services Register.
This
warning from the FCA serves as a reminder of the vigilance necessary when
dealing with financial service providers and underscores the importance of
verifying the authorization and legitimacy of firms operating in the financial
industry.
Finalto
Pro vs. Finalto Financial Services Limited: Distinguishing Fact from Fraud
A
tweet from the FCA revealed that a total of 54 entities were warned as
unauthorized or clone firms last week. Finance Magnates reported
that the
FCA had raised concerns about Finalto Pro, a suspected clone firm falsely
claiming an association with FCA-regulated Finalto Financial Services Limited.
Finalto Pro employs deceptive tactics, including using the same name, email and website as the legitimate entity.
The
FCA has warned consumers that engaging with Finalto Pro leaves them without
protection from the Financial Ombudsman Service and the Financial Services
Compensation Scheme.
FXCubic Integrates Devexperts' DXtrade to Enhance Broker Solutions
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
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📡 RSS Feed: https://www.financemagnates.com/feed/
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Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa