FCA warns of clone MGA

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The Financial Conduct Authority (FCA) has published a warning against clone managing general agent Insure4Life, posing as Insure4Sport.

The regulator stated that the clone MGA is not authorised or registered by the FCA but is targeting people in the UK claiming to be an authorised firm.

According to the FCA, fraudsters usually use this tactic when contacting people out of the blue and may use the name of the genuine firm and mix in false details.

The regulator detailed that the clone firm has

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