Share fraud scammer impersonating FCA employee
The Financial Conduct Authority have warned consumers against dealing with a person going by the name of William Howarth who is fraudulently telling consumers that he is calling from the FCA.
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The individual is trying to persuade consumers to send him advance fees in order to invest in products such as fine wine or to allow him to buy shares that they already own.
Mr Howarth has given the FCA's contact details, including address and telephone number as his own, but the regulator have stressed that any calls recieved from him are not from the FCA.
In a statement, the FCA said that "some firms act without our authorisation and some knowingly run scams like share fraud".
On Wednesday, the FCA published a statement to warn consumers against dealing with Zopa Loans Reviews, which has been carrying out consumer credit activities in the UK without our permission or authorisation.
The firm is not affiliated in any way to peer-to-peer lender Zopa Limited, but confusion could have been caused for consumers who recognise the Zopa brand.
Industry experts have warned that the pension freedoms and the rise of peer-to-peer lending is likely to cause a spike in unregulated and clone firms.
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