Wisefunds.uk is a Fraudster Firm Warns the Financial Conduct Authority

The Financial Conduct Authority (FCA) has just made an announcement about an online firm that is claiming to offer financial services and products in the United Kingdom. The FCA has made it clear that Wisefunds.uk, the online trading service provider is a fraudulent website.

As per the authority, the online trading service provider is running financial operations in the United Kingdom without any approval or authorization from the regulator.

The firm is also acting as a cloning firm using the identity of a legally authorized firm in the United Kingdom. The particular firm is registered in the United Kingdom by the FCA to operate in the country.

However, Wisefunds.uk is using its identity and firm reference number to mislead people who wish to interact with it. The FCA has reasons to believe that all the contact and communication information the firm has provided on the website may be incorrect.

Thus, the Financial Conduct Authority has issued an intimation for the locals of the United Kingdom to not fall for the fraudulent schemes posed by the firm. Instead, they must remain very alert and try not to deal with the firm at all.

Warning against Wisefunds.uk

The Financial Conduct Authority has warned the investment community in the United Kingdom not to acquire services from the platform. The regulatory authority has multiple reasons leading it to believe that the firm is fraudulent and may be defrauding people of the United Kingdom.

The FCA claims that the firm may be running its fraudulent scheme in a number of ways to lure people in the United Kingdom. The first step the firm has taken is claiming that it is registered and authorized to operate in the United Kingdom.

The second step is to cover up its true identity by using the information of a registered firm that is authorized by the FCA to operate in the United Kingdom.

The third step would be to offer services and products with high margins, bonuses, and other benefits that may sound too good to be true. By doing this, the firm may be attempting to lure many people to their platform from the United Kingdom and deposit their funds.

The fourth step would be to provide fake or incorrect physical address and other contact details. Once again, the firm may be using this information to lure innocent people from the United Kingdom.

Wisefunds.uk is Unregistered in the United Kingdom

In the latest update shared by the FCA, it has confirmed that Wisefunds.uk is unregistered. Therefore, the firm is not authorized to operate in the United Kingdom or offer any kind of financial services.

To offer financial services or securities to the users in the United Kingdom, a firm needs to be registered through the Financial Conduct Authority. The FCA has revealed that Wisefunds.uk is not registered to offer any financial services in the United Kingdom.

The FCA has intimated the investors that it is unsafe and legally unprotected for the investors in the United Kingdom to interact with the platform given its legal status.

Wisefunds.uk is a “Clone Firm”

The FCA has warned the UK citizens Wisefunds.uk is a clone firm that is using business details and registration number of a legally authorized firm from the United Kingdom firm.

The FCA authorized firm’s details information Wisefunds.uk is using is Wise Funds Limited. The website for the legitimate firm is www.wise-funds.co.uk. The email address of the firm is [email protected]. The phone number for the registered firm is +4401608695180.

The address provided on the Wise Funds Limited website is The Great Barn, Chalford Park Barns, Chipping Norton, Oxfordshire, OX7 5QR, UK.

The firm reference number that the clone firm is claiming to have is 768269.

Details about Wisefunds.uk

The FCA has revealed that Wisefunds.uk, the fraudulent is accessible through the website; www.wisefunds.uk and its email is [email protected].

It is highly likely that the firm may change the information from time to time to hide its true location and stay out of the reach of the regulators.

The firm is reportedly offering the UK citizens the ability to trade in cryptocurrencies alongside other major online trading assets. The investors must remain cautious when investing money through the firm as it is no regulated so no protection or funds safety can be provided if the funds are stolen by the fraudster.