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Scammers create fake FSA register to dupe consumers

by: IFAonline
  • 15/03/2013
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Scammers create fake FSA register to dupe consumers
The Financial Services Authority (FSA) is warning consumers of a new tactic adopted by fraudsters - setting up fake versions of its website and register.

The regulator said it had recently seen bogus versions of its register showing the contact details of ‘cloned’ businesses rather than those of the genuine, authorised firms the scammers claimed to work for.

Previously, fraudsters tended to go for the easier option of simply claiming to work for firms authorised by the FSA.

To add credence to their claims, some fraudsters even attempted to change the contact details of authorised firms on the FSA register to show the phone number, address and website details they were giving to scam targets.

Now, some are attempting to create fake registers by setting up new websites, the regulator said.

As well as following other steps to ensure consumers are dealing with a genuine, authorised firm, the FSA has recommended individuals access its register from, rather than through links in emails or on the website of a firm offering investments.

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