Tuesday, 12 December 2017 10:38

FCA warns on Amundi Asset Management clone

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The FCA has warned that scammers are cloning the name and details of a well-known asset management firm to try to cheat investors.

The FCA terms a ‘clone firm’ as a firm not authorised by the regulatory body that is scamming investors under the guise of a well-known authorised organisation, often using a fake website or address.

Amundi Asset Management is the clone of a fully authorised EEA firm with the same name. The genuine Amundi Asset Management is the world’s eighth largest asset manager with offices in 37 countries.

The FCA says that fraudsters are using some of the correct details of the firm to try to convince people that they work for a genuine, authorised firm.

The 'clone firm’ may be cold-calling investors and may be using the name of the genuine firm, the 'firm reference number' (FRN) of the authorised firm or other details, warns the regulatory body.

Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK: Amundi Asset Management. Telephone: 0207 310 8563.

The watchdog added that the correct details of the genuine firm are: Amundi Asset Management, Address: 41 Rothbury, London, EC2R 7HF, Telephone: 0207 074 9300.

The FCA says that investors need to take stringent steps to ensure they are dealing with the legitimate firm by checking the FCA register and calling the correct number for the legitimate firm listed on the register.

Investors must verify they are dealing with a genuine authorised firm. It says if a firm does not appear on the register but claims it does, investors can contact the FCA Consumer Helpline on 0800 111 6768.

Scams involving unauthorised firm are not covered by the Financial Ombudsman Service and the FSCS will not pay compensation.

 

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