Clone firms are one of the most common financial frauds in the UK. Fraudsters copy the name, FCA number and branding of real authorised firms. This page explains what to look for and how to verify you are dealing with a genuine company.
A clone firm is a fraudulent operation that impersonates a legitimate, FCA-authorised financial company. The fraudsters copy:
They then use these details to contact people — often by phone or email — to offer investments, loans, or pension opportunities. Because the FRN appears genuine, victims may believe they are dealing with a regulated firm.
Fraudsters favour well-known firm names as these lend more credibility to their approach.
Go to register.fca.org.uk and search for the firm by name. Confirm the firm exists and its FCA registration number (FRN) matches what you have been given.
Once you have found the genuine firm on the FCA Register, use the phone number or email listed there — not the number on any document, email or letter you received. Phone and ask to confirm you were contacted by them.
The FCA maintains a Warning List of known unauthorised firms and scams at fca.org.uk/scamsmart. Search for the company name to check whether they appear on it.
Search for the company at find-and-update.company-information.service.gov.uk. Verify the company number, registered address, and director names match what the firm has told you.
A genuine authorised firm will never pressure you to make a quick decision or transfer money urgently. If you are being rushed, stop all contact and seek advice.
If you believe you have been approached by a clone firm, take the following steps:
A clone firm is a fraudulent company that copies the name, logo, FCA registration number (FRN) and sometimes the website of a legitimate FCA-authorised financial firm. Fraudsters then use these details to approach people, often by phone or email, to sell fake investments or loans.
Use the FCA Register at register.fca.org.uk. Search for the firm by name. Then — crucially — use the phone number or email address listed on the FCA Register itself, not the contact details provided in any document or email sent to you. Clone firms often provide fake contact details that match the real firm's name but reach the fraudster.
Do not transfer any money. Do not provide bank details or personal information. Report it to Action Fraud on 0300 123 2040 (actionfraud.police.uk) and the FCA on 0800 111 6768 (fca.org.uk/consumers/report-fraud-scam). If you have already sent money, contact your bank immediately.
Yes. Fraudsters copy the genuine FCA registration number (FRN) of a legitimate authorised firm. This is why checking the FRN alone is not enough — you must also verify the contact details shown on the FCA Register match the contact details you have been given. If they differ, treat it as a potential clone.
Yes. Common targets include investment firms, banks, peer-to-peer lenders, bonds issuers, and pension providers. Fraudsters tend to clone firms with well-known names, as this makes their approach more convincing. Always verify independently even if a firm sounds familiar.