Axa Investment Managers is the latest firm to be cloned by scammers, the FCA has warned.
The clone firm has been operating under the name Axa IM with a Northampton address. The FCA warning page says a person called Alan Winks is associated with the clone firm and three email addresses have been set up.
The FCA warning says: “Be aware that the scammers may give out other false details or mix these with some correct details of the registered firm.”
On its website, the FCA has given the correct details for Axa IM and informed people what to do to report a scam.
The FCA says: “Fraudsters look for new ways to scam consumers, but one scam increasingly reported to us involves share scammers pretending to be from firms we authorise.”
It says: “These scammers typically cold-call investors to promote shares, property or other investment opportunities that are non-tradable, worthless, overpriced or even non-existent.”
The FCA says a new tactic has seen fraudsters using the name, firm registration number, and address of firms and individuals authorised by it to suggest they are genuine but are actually clone firms.