It is believed to be one of the first times a Financial Planning firm has been targeted in this way.
The watchdog says that fraudsters are using the details of the Milton Keynes-based CISI Accredited Financial Planning Firm to “try to convince people that they work for a genuine, authorised firm.”
It is not known if any frauds have taken place or any money is at risk but the FCA believes that fraudsters have been using the boosst name to contact unsuspecting UK victims.
The details being used by the clone firm scammers are similar in some areas to the genuine firm but the clone firm, whose website was still operating this morning, appears to be promoting crypto currency and other high risk investment funds.
The clone firm details are: boosst Limited (clone of FCA authorised firm)
Address: First Floor 5 Doolittle Yard, Froghall Road, Ampthill, Bedfordshire, England, MK45 2NW
Telephone: +44 7588 814373
The genuine boosst business, run by Keith and Josh Butten, employs a significant number of Certified Financial Planners and is a CISI Accredited Financial Planning Firm.
The genuine FCA-authorised firm’s details are:
Firm Name: boosst Limited
Firm Reference Number: 791683
Address: Church View, Hulcote, Milton Keynes, Buckinghamshire, MK17 8BW, UNITED KINGDOM
Telephone: +44 1908584925
Josh Butten, director of Boosst, told Financial Planning Today: "We remain unsure why we were the target - but thankfully we were alert, dealt with the issue quickly and the FCA took action immediately."
• See story on how Boosst fought back against the scammers.