Finance glossary
Clone Firm
Also known as: Clone scam
In simple terms
A clone firm is a scam where fraudsters copy the name and details of a genuine, authorised financial firm to trick you into thinking you are dealing with the real thing.
On this page
What does clone firm mean?
A clone firm is a fake operation that copies the name, registration number and sometimes the branding of a legitimate FCA-authorised firm. The scammers use these real details but give their own phone number, website or bank details.
The aim is to make you believe you are dealing with a trustworthy, regulated business.
How clone firm scams work
Fraudsters may contact you out of the blue, or set up convincing websites, quoting a genuine firm’s FCA reference number. If you check only the name, it looks authorised — but the contact details lead to the criminals, not the real firm.
They often push “too good to be true” investments and pressure you to act quickly.
How could this affect me?
Falling for a clone firm can mean losing money that is very hard to recover, especially with investments outside normal protections. Always find the firm on the FCA Register yourself and use only the contact details listed there.
Treat unexpected contact, guaranteed returns and time pressure as red flags.
Things to watch out for
- Scammers quote a real firm’s FCA number but their own contact details.
- Always use the contact details on the FCA Register, not ones you are sent.
- Guaranteed returns and time pressure are classic warning signs.
Know your rights
- You can check a firm and its correct contact details on the FCA Register, and see FCA warnings about known clone firms.
- Report suspected clone firms to the FCA and, if you have lost money, to Action Fraud.
General information, not personal advice
Consumer Credit is an independent information service. We do not provide regulated financial advice or sell financial products. For advice on your own situation, speak to an appropriately authorised firm or a free service such as MoneyHelper. About Consumer Credit.
Sources
We checked this page against these official and authoritative sources.
- FCA, How to avoid scams — clone firms (opens in a new tab). Accessed 22 Aug 2026.