LONDON (Reuters) – Some of London’s top hedge funds and asset managers are among those that have been targeted by rogue internet operators who clone their names and websites in an attempt to part unsuspecting investors from their cash.
FILE PHOTO – Silhouettes of laptop users are seen next to a screen projection of binary code are seen in this picture illustration taken March 28, 2018. REUTERS/Dado Ruvic/Illustration
The high number of warnings from leading regulator the FCA — roughly one a day so far this year — underscores the concern in the sector over sham internet sites.
Although few individuals are known to have fallen for the fakes so far, Winton and Algebris, backed by two of Europe’s most prominent investors and targeted in recent weeks, are among the highest profile names to be hit as the scammers grow bolder.
The regulator has warned that fraudsters typically use the name of a genuine firm, launching a website with a similar design to the original.
Source Reuters Tech News