Article preview: More than £78 million has been stolen via ‘clone firm’ investment scams during 2020. The Financial Conduct Authority (FCA) has issued a new warning, as these investment scams are on the rise, placing investors at significant risk of harm. Reports of ‘clone firm’ investment scams rose by 29% in April 2020, compared to March, when the UK entered its first lockdown.
Attack of the investment clones
This 1,169-word blog post carries a warning from the Financial Conduct Authority about rising levels of clone investment firms, which scammed investors out of more than £79 million last year. Includes 4 steps for investors to take to avoid being scammed by clone firms. Written on 27th January 2021.
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