FCA warns against clone of Finalto
The UK Financial Conduct Authority (FCA) has issued a warning against a clone of institutional trading and liquidity services firm Finalto.
Clones are fraudulent entities that abuse the details, such as addresses, logos, name, etc., of regulated firms. This is done in order to lure investors to become clients of the fraudulent entities. Regardless of the similar names, logos, and other data, the clones have nothing to do with the authorized businesses whose data they abuse. Clones are scams and should be avoided.
Finalto Pro is a clone of Finalto. Finalto Pro is not authorised by the FCA but has been contacting people pretending to be an authorised firm.
Clone firm details
Name: Finalto Pro / finalto.pro (Clone of FCA Authorised Firm)
FCA authorised firm details
This is the genuine, authorised firm that the fraudsters are claiming to work for. It has no connection with the clone firm.
The correct details are:
Firm Name: Finalto Financial Services Limited
Firm Reference Number: 481853
Address: 11th Floor
20 Primrose Street
London, EC2A 2EW, UNITED KINGDOM
If you deal with the clone firm, you won’t have access to the Financial Ombudsman Service if you have a complaint. You also won’t be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. This means it’s unlikely you’d get your money back if the firm goes out of business.