The UK financial regulatory authority has warned against an illicit company impersonating the authorized firm Admiral Markets UK Ltd. According to the Financial Conduct Authority (FCA), this clone entity is using detailed information of Admiral Markets UK Ltd within a fraudulent company named admrlmrkts.co.

Details of the clone company

As per the FCA statement, admrlmrkts.co is reaching out to unsuspecting individuals, falsely claiming an association with the legitimate company. The clone scam involves an entity using contact information similar to the genuine company, making it difficult for potential investors to distinguish between the real and the fake.

The clone company operates under the name admrlmrkts.co, with a phone number of +442030972830 and emails such as support@admrlmrkts.co, support@admiralmarkets.io, and compliance.uk@admiralmarkets.io. Its website is located at https://admrlmrkts.co/. The FCA notes that this fraudulent entity uses other false details in addition to mixing details from the legitimate company.

It's important to note that Admiral Markets UK Ltd is a legitimate company authorized by the FCA and has no affiliation with this clone operation. The genuine company's name is Admiral Markets UK Ltd, reference number 595450, with an address in the UK, and the correct email is compliance.uk@admiralmarkets.com.

The clone company exploits the trust and reputation of legitimate firms to deceive investors. Their adept use of real company details often makes them appear highly credible, making it challenging for individuals to identify issues before falling victim to fraud. The FCA urges users to remain vigilant against unsolicited calls, emails, or offers of financial services or investments.

FCA actions against more clone companies

Instances of clone companies in the financial sector are on the rise. Recently, the FCA warned of a fraudulent entity impersonating a legitimate financial service provider. This discovered scam operator operates under the name "finaltolive.com," falsely claiming authorization from financial regulatory authorities.

Reportedly, finaltolive.com mimics details of the legitimate FCA-registered company Finalto Financial Services Limited to deceive the public. The warned entity uses the email address h.stevens@finaltolive.com. Thus, the FCA advises users that the fraudsters behind this may provide other false contact information such as different email addresses, phone numbers, and postal addresses.

Similarly, last month, the FCA also cautioned against ten companies suspected of offering or promoting financial services without its authorization. The regulatory body stated that these companies include GLOBAL SKY TRADING, SUPERMININFX.LTD, ELITEGLOBALMINERS, FLOWSGLOBAL, LEGITIMATEFXPRO.COM, and SOLID-TRADES UNIT.

These warnings aim to help the public identify and avoid risks associated with clone companies and unauthorized financial services. Investors should remain vigilant, carefully verifying the authenticity of any unsolicited financial service providers and confirming their authorization and regulation by the FCA.