View more on these topics

FCA issues warning over Shawbrook Bank clone

Tony-Wickenden-MM-grey-250x255.jpg
Clone: The website of Shawbrook Bank clone Shawz Online Brook

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.”

measures
The real Shawbrook’s website

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. And just how have they alerted the public?

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com