What are the red flags of this scam?

The firm contacted you out of the blue by phone, email, or social media — genuine FCA-authorised firms do not cold-call about investments • The FCA Register shows the FRN they gave you — but the phone number or email they used is different from what is on the Register entry; scammers mix real FRNs with their own contact details • They offer above-market returns: guaranteed bonds at 8–12% when standard rates are 4–5%, or funds 'not available to retail investors' at a special rate • They are friendly, professional, and patient — often calling several times over days to build trust before asking for money • They encourage you to 'verify' their legitimacy using the FCA Register but provide the verification step themselves, so you never independently find the genuine firm's phone number

What should I do if this happened to me?

Always verify independently: look up the firm on the FCA Register at https://register.fca.org.uk, find the real firm's phone number there, and call them directly to confirm whether they contacted you • Check the FCA Warning List before investing: https://www.fca.org.uk/consumers/warning-list-unauthorised-firms • Never use the phone number, email, or website given to you by the person who made contact — always find these independently from the FCA Register • If you have already transferred money, contact your bank immediately and ask them to recall the payment — banks must assess APP fraud reimbursement claims under PSR rules • Report to Report Fraud at https://www.reportfraud.police.uk or call 0300 123 2040.

CRITICAL investment Last reported: 3 Oct 2026 Share

A broker contacts you about an investment — their FCA number checks out, but they are a clone firm

Q: Is this a scam?

Yes. This is a documented scam pattern. Fraudsters copy the name, address and FCA Firm Reference Number of a real authorised firm, then substitute their own phone and email. Victims check the FCA Register and see the FRN is real — but the contact details lead to the scammer. Average losses exceed £40,000. The FCA issued four clone warnings in September 2026 alone.

Fraudsters copy the name, address and FCA Firm Reference Number of a real authorised firm, then substitute their own phone and email. Victims check the FCA Register and see the FRN is real — but the contact details lead to the scammer. Average losses exceed £40,000. The FCA issued four clone warnings in September 2026 alone.

Also known as: FCA clone firm scam, clone investment firm UK, fake investment broker UK, impersonation investment fraud, clone bond scam

Already happened to you? Do this in the next few minutes

1 Call your bank or card's fraud line right now. Use the number on the back of your card — not any number from the message or caller. Ask them to stop or reverse the payment and freeze the account.
2 If you paid by gift card, wire, or an app (Zelle, Venmo, Cash App): contact that company immediately and report it as fraud. Acting fast sometimes recovers the money.
3 Report to the FBI at ic3.gov and the FTC at reportfraud.ftc.gov. The sooner, the better.

What to do right now

1 Always verify independently: look up the firm on the FCA Register at https://register.fca.org.uk, find the real firm's phone number there, and call them directly to confirm whether they contacted you
2 Check the FCA Warning List before investing: https://www.fca.org.uk/consumers/warning-list-unauthorised-firms
3 Never use the phone number, email, or website given to you by the person who made contact — always find these independently from the FCA Register
4 If you have already transferred money, contact your bank immediately and ask them to recall the payment — banks must assess APP fraud reimbursement claims under PSR rules
5 Report to Report Fraud at https://www.reportfraud.police.uk or call 0300 123 2040.

Red flags

⚠ The firm contacted you out of the blue by phone, email, or social media — genuine FCA-authorised firms do not cold-call about investments
⚠ The FCA Register shows the FRN they gave you — but the phone number or email they used is different from what is on the Register entry; scammers mix real FRNs with their own contact details
⚠ They offer above-market returns: guaranteed bonds at 8–12% when standard rates are 4–5%, or funds 'not available to retail investors' at a special rate
⚠ They are friendly, professional, and patient — often calling several times over days to build trust before asking for money
⚠ They encourage you to 'verify' their legitimacy using the FCA Register but provide the verification step themselves, so you never independently find the genuine firm's phone number

Already happened to you? Do this in the next few minutes

What to do right now

Red flags

Sources