FCA Cautions against Clone Firm Impersonating Finalto

<p>The Financial Conduct Authority (FCA) has flagged
Finalto Pro, an alleged clone firm claiming affiliation with the FCA-regulated
entity, Finalto Financial Services Limited. The firm is utilizing deceitful
tactics to convince unsuspecting individuals of its authenticity. </p><p>The FCA has issued a warning, shedding light on the
deceptive practices of Finalto Pro and urging caution among financial
consumers. Finalto is mimicking the details of Finalto Financial Services
Limited. The fraudsters operating Finalto Pro use the same name, email
([email protected]), and website (https://finalto.pro/) to ensnare
unsuspecting users.</p><p>The regulator has warned individuals who engage with
the firm that they will not be protected by the Financial Ombudsman Service or
the Financial Services Compensation Scheme.</p><blockquote><p lang="en" dir="ltr">Finalto Pro / <a href="https://t.co/SGMfOjSZUe">https://t.co/SGMfOjSZUe</a> (Clone of FCA Authorised Firm) <a href="https://t.co/WizECXnR8o">https://t.co/WizECXnR8o</a></p>— Jared Kirui (@JaredLopta79285) <a href="https://twitter.com/JaredLopta79285/status/1723023463948955902?ref_src=twsrc%5Etfw">November 10, 2023</a></blockquote><p>FCA Discloses the Identity of the Authorized Firm</p><p>Drawing a clear distinction, the authentic <a href="https://www.financemagnates.com/tag/finalto/" target="_blank" rel="follow">Finalto Financial Services</a> Limited possesses the FCA's stamp of approval with the
reference number 481853. Its registered address is on the 11th Floor, Broadgate
Tower, 20 Primrose Street, London. The contact details of the company are
+442034558751, [email protected], and can be verified on its official
website, https://liquidity.finalto.com/uk/.</p><p>Users have been advised by the <a href="https://www.financemagnates.com/tag/fca/" target="_blank" rel="follow">FCA</a> to engage
exclusively with authorized financial firms to protect themselves against such
deceptive practices. The Financial Services Register offers a tool for
verifying a firm's authorization and permissions, providing essential
information on protection measures and authorized contact details. </p><p>Meanwhile, the Cyprus Securities and <a href="https://www.financemagnates.com/terms/e/exchange/">Exchange</a>
Commission (<a href="https://www.financemagnates.com/tag/cysec/" target="_blank" rel="follow">CySEC</a>) has warned about four unauthorized investment services. The
regulator has pinpointed four websites, stonexly.com, retailfx.net,
ftmartzone.com, and ctcapitaltraders.com, operating without the necessary
authorization for the provision of investment services. </p><p>CySEC Cautions against Unapproved Firms </p><p>The Cypriot regulator has advised investors to
consult its official website (www.<a href="https://www.financemagnates.com/terms/c/cysec/">cysec</a>.gov.cy) before initiating any transactions
with investment firms. By doing so, investors can verify the licensing status
of entities, ensuring they are dealing with reputable and authorized service
providers.</p><p>Recently, the FCA <a href="https://www.financemagnates.com/forex/fca-issues-warning-about-clone-firm-impersonating-plus500uk/" target="_blank" rel="follow">warned against a clone firm</a>
operating under the deceptive website www.plus500un.com. This imposter falsely
claims to be Plus500UK Ltd., an authorized financial services provider. The
authorized entity's reference number is 509909, with its legitimate address at
8 Angel Court, Copthall Avenue, London, EC2R 7HJ, United Kingdom.</p>

This article was written by Jared Kirui at www.financemagnates.com.