The UK regulator, the Financial Conduct Authority, has warned against three firms fraudulently using the names of authorised companies to lure investors into doing business with them.

The UK
regulator, the Financial Conduct Authority, has warned against three firms
fraudulently using the names of authorised companies to lure investors into
doing business with them.

Notably, one of these warnings is about
www.citibankinguk.co.uk, a website claiming to be associated with
London-headquartered Citibank International and Citibank, NA.

However, following the regulatory warning, the website appears
to be suspended.

“We believe fraudsters are using the details of an
authorised firm to try to convince people that they are genuine,” the FCA said
in a statement.

Another clone operating under the name Cayenne Trust
Investment and using a mobile phone contact number, has no association with the
legitimate Cayenne Asset Management firm, based in London, the watchdog added.

Finally, the FCA warned against a clone calling itself Pictet
Private Wealth Management, which has no association with the FCA-authorised
firms Pictet Asset Management and Pictet Investment Company, both based in London.

In addition to this, the regulator also warned against five
firms marketing themselves to UK
investors despite not being authorised to do so. These include Ellis Harper and
Company; the Hanover Group; Martin Donnelly; Harold and Bauman; and the Brewer
Consulting Group.

Here, investors should be aware that doing business with
unauthorised firms will not have recourse to the Financial Ombudsman Service or
Financial Services Compensation Scheme.