The Financial Conduct Authority (FCA) has added www.thinkingmega.com to its warning list, saying the firm is not authorised by the regulator and may be targeting people in the United Kingdom. The notice lists the website along with a contact email used by the operation.
According to the FCA, the firm may be providing or promoting financial services or products without the regulator's permission. The watchdog advised consumers to avoid dealing with the firm and to beware of scams. Almost all firms and individuals must be authorised or registered by the FCA to carry out or promote financial services in the UK.
The regulator set out the consequences for anyone who engages with the operation. Customers of the firm would not have access to the Financial Ombudsman Service if they wanted to complain, and would not be protected by the Financial Services Compensation Scheme (FSCS) if things went wrong. That means it is unlikely they would get their money back if the firm went out of business.
Contact details may not be genuine
The FCA cautioned that some firms on its warning list give incorrect contact details, including postal addresses, telephone numbers and email addresses, and may change those details over time. Firms may also supply details belonging to another business or individual so the information appears genuine.
The regulator said consumers who sent money to a fraudster on or after 7 October 2024 may be covered by protections introduced by the Payment Systems Regulator (PSR).
The FCA urged consumers to deal only with authorised financial firms and to use its Firm Checker to confirm that a firm is authorised and holds permission for the services being offered. Anyone contacted unexpectedly by a financial business should reply using the contact details listed on the Firm Checker. People who believe they have been approached by an unauthorised firm can call the FCA on 0800 111 6768 or use its contact form.
