FCA warning against clone firms
The Financial Conduct Authority (FCA), the British financial regulatory authority, has issued a warning informing the investors that “Startuploans Ltd” and “Loan-Monarch” are clone firms, thus, are not permitted to provide any financial services or products.
Furthermore, FCA points out that fraudsters are using the details of firms registered to carry out consumer credit activities to try to convince people that they work for a genuine, registered firm. These clone firms are not regulated or authorised by the FCA.
Source: FCA
