FCA Issues New Warnings Against Clone and Unlicensed Investment Firms

The UKs Financial Conduct Authority (FCA) has recently issued a new batch of warnings targeting clone firms and unauthorized investment platforms operating without regulatory approval. The regulator highlighted multiple cases where scammers impersonate licensed entities or fabricate legitimacy using misleading information.

Clone Firms Imitate FCA-Registered Entities

Among the flagged entities is XY Miners, a fraudulent firm posing as Entre-Wealth Limited. The scam operation used a similar name and fake websites (such as xyminers.com) to deceive investors. However, the genuine Entre-Wealth Limited is fully authorized and has no connection with this scheme.

Another example is capitalgeneration.cc, which falsely claimed ties to the reputable Capital Generation Partners LLP. The clone firm operated through deceptive email domains and websites, attempting to trick unsuspecting investors by mimicking official contact details.

Additional Clones and Unauthorized Entities Identified

The FCA also warned against:

• Wealthsclub.com, pretending to be the well-established Wealth Club Limited.
• marketside.uk, falsely linked to Marketside Ltd, a previously authorized payment services firm.

Each of these clone firms utilizes forged or recycled contact information, sometimes blending in authentic FCA firm reference numbers or addresses to build trust.

Unlicensed Firms Operating Without Oversight

In addition to the clone warnings, the FCA listed several entities offering investment services without proper licensing. These include:

• Royal Trade Club, allegedly based in the UK and the US.
• Liberty Bank / Liberty Coin Exchange, operating via libertybank.org.
• Winncere (winncere.com), based in San Francisco.
• LocalCoinSwap, a crypto platform with a Hong Kong address and an active social media presence.

These firms are not authorized to provide financial services in the UK. Engaging with them places investors at high risk, as they are not covered by any regulatory protections such as the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS).

FCA Urges Vigilance

The FCA reiterates that investors should always verify a firms regulatory status through the FCA Register. Clone firms often mimic legitimate businesses, but operate with fraudulent intent—sometimes even recycling branding, employee names, or website templates.

If you are approached by someone claiming to represent a licensed firm, always contact the firm directly using contact details listed on the official FCA website, not those provided by the suspicious party.

Conclusion

As investment scams grow more sophisticated, due diligence remains crucial. The FCA‘s latest crackdown reflects the growing need for awareness and self-protection in today’s digital financial environment.