Consumer Alert: Beware of Fraudsters Impersonating Blockchain Access UK Ltd, Warns Financial Conduct Authority

Consumer Alert: Beware of Fraudsters Impersonating Blockchain Access UK Ltd, Warns Financial Conduct Authority

(IN BRIEF) The Financial Conduct Authority (FCA) in the UK has issued a warning about fraudsters impersonating Blockchain Access UK Ltd, an authorised EMD Agent. These fraudsters are attempting to deceive consumers by using the details of the authorised agent. They specifically target individuals who have been scammed or had failed investments, offering to help them recover their money in exchange for upfront fees. The FCA advises consumers to be cautious, verify the authenticity of firms or individuals claiming to represent authorised entities through the FCA’s Financial Services Register, and exercise vigilance when making investment decisions.

(PRESS RELEASE) LONDON, 23-Jun-2023 — /EuropaWire/ —  The Financial Conduct Authority (FCA), the conduct regulator for around 50,000 financial services firms and financial markets in the UK and the prudential supervisor for 48,000 firms, has issued a warning regarding fraudulent activities involving the authorised EMD Agent, Blockchain Access UK Ltd (Reference number: 902765). Fraudsters are using the details of Blockchain Access UK Ltd to deceive consumers into believing they are dealing with the authorised EMD Agent.

These fraudsters specifically target consumers through recovery room scams, offering assistance to individuals who have fallen victim to scams or experienced failed investments. They claim to help victims recover their funds but require an upfront fee. Consumers are strongly advised to familiarize themselves with information on recovery room scams provided by the FCA.

To safeguard against such fraudulent activities, consumers are urged to consult the FCA’s Financial Services Register to verify the authenticity of any individuals or firms claiming to represent authorised entities. It is crucial to conduct thorough research and exercise caution before making any investment decisions.

It should be noted that all individuals and firms conducting regulated financial services activities in the UK must hold proper authorisation from the FCA.

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SOURCE: The Financial Conduct Authority (FCA)