The Financial Conduct Authority (FCA), the UK financial regulator, has issued a warning regarding an online trading company allegedly trying to impersonate Blackrock Asset Management UK Limited. The original company is authorized to operate in the UK, which may suggest why it was targeted by a clone firm.
As the FCA usually comments in this type of regulatory notice, some scam companies might try to fool traders into thinking that a regulated and licensed company has approached them. They use similar names, office addresses, email addresses, and more. In this instance, the copycat company has opted for an almost identical name, having dropped only the words ‘UK Limited’ from the original company’s brand. In addition, the website address is also almost indistinguishable, ending with .ga instead of .com.