FCA Strengthens Crackdown on Suspicious Entities

The UK market watchdog Financial Conduct Authority (FCA) has issued warnings against 7 suspicious companies that are operating in the country without any licenses or are clones of authorized platforms.

The FCA labeled CaptaFXTrading as a clone firm as it is taking advantage of a misleading name and using other detailed information of an authorized firm CAPTA FX LIMITED to lure investors to the platform. The fake firm is operating under the domain of “www.captafxtrading.com”. It claims in its website to be an experienced investment company that offers diverse business options to customers, and can guarantee no loss if people choose them to make investments.

Another suspicious scammer has chosen to operate under the brand of ‘PrimeXQ’. The regulator alleged that it is a clone of Prime Business Finance Ltd, a legitimate company based in the UK.

In addition, the regulator warned that Clifton Consulting Group LLC is not registered or authorized by them. The potential fraudster is operating under the domain of “www.cliftonconsultinggroupllc.com”, and claims that they provide M&A and divestiture advisory services to privately owned businesses that desire to sell.

Investment Compare, an unauthorized firm, advertises in its website that it is an investment comparing entity, offering 100% free and trustworthy services. The suspicious firm is reaching out to investors using the Email enquiry@investment-compare.com.

Compare Rates UK is believed to operate without the FCA’s authorization, thus is not qualified to provide any financial services or products in the UK.

Fixed Rates Finder preaches at investors that it offers them the ability to search for the best fixed rates available in the UK and that capital is under full protection. Whereas, it is not registered with the UK regulator.

Furthermore, the watchdog exposed another unauthorized entity, Investment Comparison Online. It is located at Upland, Arkley Lane, Barnet, UNITED KINGDOM, EN5 3JW, with the contact information of Email info@investmentcomparisononline.com.

The UK regulator is continuously adding suspicious companies to its warning list and advises caution when dealing with companies that have not been registered.