The regulator today issued a public warning about a bogus firm using the Blackrock Asset Management name. Blackrock is one of the world's biggest fund managers and financial cloning fraud - where websites are copied to try to cheat investors - is becoming more common.
This 'cloned' website is not authorised or registered by the FCA but has been targeting people in the UK, claiming to be an authorised firm.
It has been using the website address www.blackrock.ga - which the FCA said was a clone of a previously authorised firm’s website.
Officials said scammers have been using the details of firms the FCA authorises to try to convince people that they work for a genuine, authorised firm.
A statement read: “Fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorised firm or other details.”
The clone firm used the telephone number 0845 0045752 and e-mail address: This email address is being protected from spambots. You need JavaScript enabled to view it..
The FCA stressed that the clone has no association with BlackRock Asset Management UK Limited, which is an authorised firm.
A statement from BlackRock read: “BlackRock takes these matters very seriously. We continually work with outside counsel and regulators to help eradicate these kinds of scams.”