Tullett Prebon, part of , the largest interdealer broker in the world, responded on Tuesday to a warning from the (FCA) which identified that fraudsters are using the details of Tullett Prebon to trick individuals in the United Kingdom into a scam.
In response, the interdealer broker published a press release warning consumers of the fraud. In the PR the firm clarified its correct details so people in the UK can differentiate between the legitimate company and scam firm. The legitimate firm manages a portfolio of businesses. It also provides intermediary services, contextual insights and intelligence, trade execution solutions and data and analytics.
The warning from the FCA was published on Monday, September 3, 2018. According to the warning, the clone firm is using the name Tullett Prebon. However, consumers can tell the two apart from the differing address. The scam firm is claiming its address to be 288 Oldfield Lane North, Greenford London, UB6 8PS; North Circular Road, London, NW10 7TL.
However, the legitimate firm Tullett Prebon reminds consumers that its correct address is: Tower 42, Level 37,25 Old Broad street, London EC2N 1HQ; 155 Bishopsgate, London, EC2M 3TQ.
often try to trick investors by using similar details. This can range from using the same name, address, registration number and other significant details. At the moment, investors can tell the difference between the two Tullett Prebon firms through the address. However, the scam firm could change this at any time.
If investors are contacted by Tullett Prebon, particularly via a cold call, then investors should remain alert. If this happens, the FCA urges consumers to contact its helpline at 0800 111 6768. Furthermore, contact details for Tullett Prebon can be found via its website www.tpicap.com.
Clone firms are on the rise
With technology becoming increasingly sophisticated, so are the tactics of clone firms. As a result, the instances of these type of scams are on the rise. As you can expect, this is keeping financial regulators on their toes to continuously identify these scams.
Just a quick glance at the is enough to paint a clear picture of how many clone firms are currently trying to make investors part with their hard-earned cash. In order to protect yourself from getting involved with a scam, investors should always check the warning list of their local regulator.
Performing your own due diligence on top of that, such as checking their registration number and address is another important step to protect yourself.
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