Crypto Trading Platform Claims Fake Authorization, UK Regulator Warns
Cryptovest
Published Aug 08, 2018 06:34AM ET
Updated Aug 08, 2018 07:41AM ET
Crypto Trading Platform Claims Fake Authorization, UK Regulator Warns
The UK Financial Conduct Authority (FCA) warned on Tuesday virtual currency trading platform Fair Oaks Crypto is a clone company that claims FCA authorization as part of “tactics to scam people in the UK.”
As per UK regulations, almost every company or individual offering financial services in the country needs FCA authorization or registration. Fair Oaks Crypto has neither and is manipulating investors by claiming the name, the company reference number, and the address of asset management and advisory services provider Fair Oaks Capital.
“Be aware that the scammers may give out other false details or mix these with some correct details of the registered firm,” the FCA cautioned.
The real FCA-registered company issued a statement on its This article appeared first on Cryptovest
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Written By: Cryptovest
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