FCA warns against clones and companies operating without a license

The FCA (The Financial Conduct Authority), the equivalent of the Polish KNF, has issued another series of warnings in the last three days concerning financial institutions dealing with, inter alia, Forex (or investments) and clones of legally operating companies.

Warnings regarding companies operating without authorization:

• Belmont Group - statement
• Right Capital Partners Ltd - statement
• Peyton Private Bank - statement

Warnings regarding clone companies:

• Loaningo - statement
• Diamond Loans - statement

The first list of warnings goes to entities that provide services subject to FCA supervision, but they do so without appropriate licenses or authorizations. The second case concerns companies that impersonate legally operating companies and thus want to extort money from their clients.