Scammers send fake FCA mails to investors, promising guaranteed returns

Scammers send fake FCA mails to investors, promising guaranteed returns

E-mails send by scammers, who pretend to be FCA officials are promising investors “guaranteed chance to earn” on crypto asset investments.

The e-mails are designed to look like an official correspondence from the Financial Conduct Authority (FCA) in the UK and are offering ‘guaranteed’ cryptocurrency investment opportunities.

“Bitcoin is still a long way off its peak price of $20,000, which it reached in 2017, but some cryptocurrency experts believe it could hit an even higher value by 2020”, one of the e-mails reads and than lures its readers with a “Click here” button.

The e-mails use the FCA logo and branding to make them look more credible, and also have the logo of the Prudential Regulation Authority. The e-mails come with titles like ‘FCA business update’, ‘Blacklisted FX firms’ and ‘Overdue balance’ which appear to be sent from [email protected] and [email protected]

The FCA reminds investors that it would never contact people asking for money or bank account information.

“The correspondence is likely to be linked to organized fraud and we strongly advise you not to respond to the criminals in any way,” FCA warns in a statement. “Look for signs that the email, letter or phone call may not be from us, such as it listing a mobile or overseas contact phone number, an email address from a Hotmail or Gmail account, or a foreign PO Box number.”

Back in May, FCA announced that for the past 12 months investors in the UK have lost the equivalent of over 34 million USD due to crypto currency and forex scams.

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