FCA warns investors against clone firms
Financial Conduct Authority (FCA), the British regulator has issued a warning against “AMT Markets” (www.amt-markets.co.uk) and “Euromax Finance Limited” (www.eurofinance.com) informing the investors that the two companies are the clones of the original ones.
AMT Markets is the clone firm of the London-based and FCA registered company “Amalgamated Metal Trading Limited” (www.amt.co.uk), whereas Euromax Finance Limited is the clone of “Euromax Capital Global Finance Limited” (trading as Euromax Finance Limited/ www.euromaxcapital.com).
Fraudsters are using the details of firms that FCA authorises to try to convince people that they work for a genuine, authorised firm. The above FCA Registered Firm that fraudsters are claiming to work for have no association with the ‘clone firm’.
Therefore, FCA advice investors to check whether the firm they are operating is genuine and under the FCA regulations or not.
Source: FCA
