FCA Exposes Fake Clone of Tier Once Capital

The clone company claims to be licensed by the FCA, using the authorised firm’s FRN and registered address.

The ‎Financial Conduct Authority (FCA) on Wednesday exposed a rogue website fraudulently abusing the brand of London headquartered, FCA regulated wealth manager Tier Once Capital Ltd.

Fraudsters have cloned a UK-regulated investment firm website in an attempt to phish for unsuspecting investors’ cash and personal information, the City watchdog warned.

The FCA further explained that it has been made aware of a clone firm operating as Zandex Investment Capital, which is also using the Tier One Capital brand and accepting payments to apply for its investment services. The website www.zandexcf.com is in no way affiliated with the legitimate company, and the agency is “advising anyone who finds the website should not submit any personal details.”

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The clone company also claims to be licensed by the FCA, using the authorized firm’s FRN and registered address. The original firm has been conducting business for several years now and can be found at http://www.tieronecapital.co.uk.

If you are an investor, you should be aware that the Financial Ombudsman Service and the Financial Services Compensation Scheme are not available if you deal with an unauthorized company or individual, the FCA said in a statement.

Clone firms operate by mimicking legitimate company details to scam people into fake, non-tradable or worthless investments. Investors can protect themselves by being wary of any cold calls offering investment opportunities and being sure the check the company’s details on the FCA register.

The FCA warnings included contact details for each of the firms included and stressed that almost all companies who offer, promote or sell financial services or products in the UK have to be authorized by the regulator.

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