The Financial Conduct Authority (FCA) has issued a warning over an unauthorised operation trading as NovaTask, which the regulator says is using the details of Nova Business Finance Ltd, a genuine FCA-registered firm with reference number 1016336.
According to the FCA, the impostors are operating through the website novatask.uk and the Telegram handle @Nova_task, and have been contacting people while pretending to be an authorised firm. The regulator confirmed that the registered firm has no connection with the clone.
Almost all firms and individuals must be authorised or registered by the FCA to carry out or promote financial services in the UK. Where an unauthorised operation copies the details of a genuine firm to appear legitimate, the FCA classifies it as a clone firm.
Details being used by the fraudsters
The FCA said the clone is presenting itself under the name NovaTask, using the address 71-75 Shelton Street, Covent Garden, United Kingdom, WC2H 9JQ, alongside the Telegram account @Nova_task.
The regulator cautioned that scammers may also give out other false details, including email addresses, telephone numbers, postal addresses and firm reference numbers, and may mix them with the genuine details of authorised firms. Contact details may also change over time.
The genuine authorised firm that the fraudsters are claiming to work for is registered at 26 Gravel Walk, Emberton, Olney, Milton Keynes, MK46 5JA, United Kingdom.
Consumer protections do not apply
Consumers who deal with the clone will not have access to the Financial Ombudsman Service if they want to complain, and will not be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. The FCA said this means it is unlikely money would be returned if the firm goes out of business.
Anyone 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 advised 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. Those 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 or clone firm can contact the FCA on 0800 111 6768 or use the regulator's contact form.
