FCA sends warning of fraudsters using details of authorised firms, such as Car Insurance 4 u

The Financial Conduct Authority (FCA) has reiterated it’s warning of ghost brokers after details of a new clone company emerged.

Fraudsters are using the details of firms the FCA authorises to try to convince people that they work for a genuine, authorised firm.

Car Insurance 4 u is part of Insurance 4 u, a registered and FCA-approved company.

However, fraudsters have set up a fake Facebook page posing as the company to scam people into buying fake policies.

The regulator says that the authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm’.

It then emphasised the importance of only dealing with financial firms that are authorised, and that people can check the register to ensure that they are.