FCA issues warning on broker clone
The regulator warned about fraudsters using details of authorised companies to scam customers.
The Financial Conduct Authority (FCA) has published a warning about Blue Insurance UK which it described as a “clone firm” operating on an unauthorised basis.
The regulator stated in a warning note: “Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm.”
Tactic
The watchdog continued: “This is what we call a ‘clone firm’; and fraudsters usually use this tactic when contacting people out of the blue, so you should be
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