The Financial Conduct Authority has put out a warning about dealing with a firm an unauthorised firm that is a clone of Shawbrook Bank.
Shawz Online Brook’s website looks strikingly similar to that of the real Shawbrook and it has also used the bank’s trademark pink lion logo.
However, the contact details used are different to that of Shawbrook, which is based in Brentwood, Essex.
Shawz Online Brook’s address is listed as 16 Waterloo Place, Haymarket, London, SW1Y 4AR. This is the same address as that of the Confederation of Spanish Savings Bank.
The FCA says: “[Shawz Online Brook] is not authorised under the Financial Services and Markets Act 2000 to carry on a regulated activity in the UK. Regulated activities include, amongst other things, accepting deposits by way of business. We believe that the organisation may be targeting UK customers.”
Shawbrook Bank says the firm has no association with it whatsoever.
If a customer deals with unauthorised firms the Financial Ombudsman Service and the Financial Services Compensation Scheme are not available.
Shawbrook Bank chief executive Ian Henderson says: “Shawbrook immediately alerted the FCA and is taking steps to mitigate the risks to potential customers that are being targeted by these websites. Shawbrook takes the issue of security very seriously.”