British FCA Blacklists Two Illegal Schemes Cloning Goldman Sachs and Swiss Investment Corp
The British Financial Conduct Authority (FCA), one of the most important regulators of the United Kingdom, has recently warned the local investors against two fraudulent companies that were cloning two legal companies.
One of them was posing as the Swiss Investment Corporation and the other one as Goldman Sachs, both companies are fully regulated, but their clones are obviously scammers eager to take some money from investors who are not very careful. The two companies were blacklisted by the FCA.
The first of the scammers used the swissinvest.biz domain and swiss-investissement.com. This one was the scammer mimicking the Swiss company. On its sites, the company offered investments in major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) as well as precious metals.
The other one was “Goldman Sachs Asset Management International”, which cloned the famous international bank. The bank has openly affirmed that the clone was a scammer and that it was not a branch.
Goldman Sachs (the real one) has recently also finished off any rumors that the company would launch its own crypto desk, something that many media outlets were claiming some time ago. So, if you see Goldman Sachs offering any crypto investment, you should be really cautious.
After blacklisting the scammer companies, the FCA has also affirmed that there were particular dangers in companies pretending that they were legitimate institutions. According to it, most of the time these companies were fake and the investors should carefully research them before they gave any money to the so-called representants of these companies.
Unfortunately, these fake companies are far from rare. Recently, the FCA warned investors against a clone of ICAP Europe Ltd. Just a month later, the company needed to warn people against these two companies.
Especially in the crypto world, these clones are prominent. Back in 2017, several companies were cloned by scammers who saw a chance to make some quick money by fooling new investors who entered the industry because they were hyped about the quick gains of the crypto market.
Last month, the FCA also announced that local investors lost over $34 million USD due to crypto and forex scams on the period that spans from 2018 to 2019.