FCA Flags Amana Financial Services Clone Firm

The regulator said the hucksters have been targeting members of the British public

It wouldn’t be Thursday without someone trying to scam someone else. And as we approach the end of the week, some people pretending to be Amana Capital’s UK subsidiary – Amana Financial Services – have made sure that the age-old scam Thursday tradition continues.

According to the Financial Conduct Authority, a group of hucksters has been trying to con angst-riddled Brits into handing over their hard earned cash. To be fair to them, the scammers have actually done a pretty good job at imitating the real Amana website.

The iFX EXPO is Back in Limassol!

By and large, imitation sites, or ‘clone’ websites, are pretty shoddy. The branding doesn’t match up, images are trashy and pixilated, and the copy usually reads as though it was written by a Ukrainian.

In this instance, the scammers have done a good imitation of the genuine Amana Capital website. If one were to scroll through it without looking carefully, one could be fooled into thinking it was the real deal.

Suggested articles

Stocks to Watch This Week – Expedia Group, IncGo to article >>

Run of the mill clone

Of course, the site probably acts like every other clone firm. Scammers working for the fake company cold call people or send out bulk emails to them.

Once they have got someone to deposit cash, they tend to pretend that they are doing ‘really well’ with their trading to encourage them to put in more money. If someone then asks to withdraw their funds, they’ll say they need to deposit more cash before they can.

Having milked someone for all they can, the scammers will then cut off all contact with them and move on to their next victim.

Our advice for this Thursday? Stay away from clone websites – no matter how realistic they are.

Got a news tip? Let Us Know