FCA Clone Firm Crypto Scams in the United Kingdom
How fraudsters clone FCA-registered firm details to operate fake UK crypto trading platforms — and how to use the FCA register and Warning List to verify.
Part of: Fake Trading Platforms
Last reviewed: 1 June 2026
The United Kingdom has seen significant crypto fraud losses in recent years, with the FCA and Action Fraud both reporting crypto as a major category of financial crime. Scammers specifically exploit the FCA's public profile — impersonating its warnings and registration requirements — to lend credibility to fraudulent platforms.
This guide focuses specifically on the clone firm tactic used in UK crypto fraud and the regulatory landscape specific to the UK.
How this scam works on United Kingdom
UK-specific crypto fraud often involves clone firm scams: fraudsters clone the details of FCA-authorised crypto firms, using their FCA registration numbers and company names on fraudulent websites. Victims who check the FCA register find the registration number is genuine — not realising it belongs to a different, legitimate firm.
Another significant UK vector is social media investment fraud where victims are directed to fake platforms via Facebook, Instagram, and WhatsApp. The platforms fabricate FCA authorisation claims. Crypto ATMs in UK supermarkets and convenience stores have also been used in government-impersonation scams, where victims are directed to withdraw cash and deposit it into a crypto ATM to resolve a fabricated HMRC debt.
Common red flags
- Trading platform claiming FCA authorisation that cannot be verified on the FCA register at register.fca.org.uk
- Company using a legitimate FCA registration number but with a different firm name or website
- Instruction to deposit at a UK crypto ATM to resolve a government debt
- FCA contact number that differs from the official FCA consumer helpline (0800 111 6768)
- Platform using Financial Services Compensation Scheme (FSCS) protection claims not verifiable on FSCS.org.uk
How to protect yourself
- Check the exact firm name and FCA number at register.fca.org.uk — not just the number alone
- Consult the FCA's Warning List of unauthorised firms at fca.org.uk/consumers/warning-list
- Know that the FCA does not authorise or register crypto asset firms for investment purposes under UK law (as of this writing) — verify current regulation at fca.org.uk
- Call the FCA consumer helpline at 0800 111 6768 if you are uncertain about a firm
- Verify FSCS protection claims directly at fscs.org.uk
How to report it
- Report to Action Fraud at actionfraud.police.uk or 0300 123 2040
- Report unauthorised firms to the FCA at fca.org.uk/contact
- Contact your bank immediately if you transferred funds to a fraudulent platform
Frequently asked questions
What is a clone firm scam in the UK context?
A clone firm scam involves fraudsters copying the details of a legitimate FCA-registered company — name, registration number, sometimes address — onto a fraudulent website. When victims check the FCA register, the number appears legitimate. The FCA advises always verifying the website URL and contact details match what appears on the register exactly, not just the registration number.