FCA warns public against dealing with clone of Finalto
The UK Financial Conduct Authority (FCA) has issued a warning against a fraudulent entity abusing the details of Finalto.
Fraudsters copy the details of firms the FCA authorises to try and convince people that their firm is genuine. Finaltos is not authorised by the FCA but has been contacting people pretending to be an authorised firm. This is what the regulator calls a clone firm.
Clone firm details
Name: Finaltos (Clone of FCA Authorised Firm)
Telephone: 02034558741, 02034558766
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.