The British Financial Regulator Unveiled the Warning of Fraudulent Cryptocurrency Companies


August 8, the British Financial Action Regulatory Authority (FCA) issued another warning about the activity of fraudsters in the cryptocurrency area. The regulator said that the activity of fraudsters asserting that they are an authorized firm FCA has increased.

Reportedly, Good Crypto, working on a fraudulent scheme, gave out “false details or mixed them with some correct details of a registered firm”, referring to the London-based Arup Corporate Finance company. FCA reported:

“This FCA authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm”.

According to FCA, Good Crypto has its official website, which presents a bunch of information, including contact details, which may be false or mixed with Arup data.

It is worth noting that the FCA issued a warning the next day after several transactions were identified that were allegedly connected with the financial company Fair Oaks Capital.

Despite the fact that Britain was late in dealing with issues of the regulation of the cryptocurrency sphere, FCA began to officially check the cryptocurrency companies for compliance with legislative requirements.

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