FCA warns of fraudulent cryptocurrency company ICO Crypto – Bits Media

UK Financial Conduct Authority (FCA) warned, that the cryptocurrency company ICO Crypto uses information of the company registered with the company's regulator to deceive customers.

The regulator said, that the fraudulent cryptocurrency company ICO Crypto uses the reference number of the company registered with the regulator in an attempt to give legitimacy to their business. The reference number used by scammers belongs to SWISS RE Capital Markets - a division of one of the largest reinsurers of SWISS Re.

“Keep in mind, that scammers can provide other false information or mix them with the present data of the registered company ", - says FCA warning. “Over time, they can change the email addresses, phone numbers or physical addresses for new ones ".

All firms and individuals, providing financial services in the country, must be registered or authorized by FCA. The regulator strongly recommends users to deal only with those financial firms, which are approved by the British financial supervision department.

Recall, that recently the financial regulator of the UK has extended the temporary registration mode for cryptocurrency companies until March 2022 of the year, as most of them are still "not up to the required standards".

In March, the Cryptouk digital Asset Association called on the Minister of Finance of Great Britain to take measures due to delays in the process of registering startups in FCA. According to the association, Firms are faced with the "complex process", And most of the companies included in the Association has not yet received a response from the regulator.