All guides
Fraud awareness
What is a clone firm scam?
Explanation of clone firm fraud, how it works and how to protect yourself.
Published 2 August 2026 3 min read
The short answer
A clone firm scam copies the identity of a legitimate regulated firm to trick customers into sending money to a fake firm. Scammers may use a similar name, fake website and false regulatory details. Always verify a firm directly with the FCA before transferring money.
How clone scams work
Scammers create realistic-looking websites, fake documentation and even fake contact numbers. They often pressure victims to invest quickly to avoid losing an 'opportunity'.
How to protect yourself
Use the FCA Firm Checker to confirm a firm’s registration. Check the FCA’s warning list for unauthorised firms. Do not rely solely on website appearance or unsolicited calls.
What this means in practice
- 1Check the firm on the FCA Firm Checker before engaging.
- 2Search the FCA warning list for the firm’s name.
- 3Do not send money to firms that cannot prove their FCA authorisation.