Fraudsters are using the details of an UK registered limited company to try to convince people that they work for a genuine company. Find out more about this ‘clone firm’.
Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an UK registered limited company.
This is what we call a 'clone firm'; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of a genuine firm, the 'firm reference number' (FRN) we have given the authorised firm or other details.
You can find out more about this scam tactic and how to protect yourself from clone firms.
Clone firm details
Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK:
AL Asset Management (Clone of UK registered limited company)
Address: News Building, 3 London Bridge Street, London, SE1 9SG
Telephone: 0203 773 9541; 0203 000 2692; 02086140736; 02077884714; 07880 491153
Be aware that scammers may give out other false details or mix these with some correct details of the registered firm. They may change contact details over time to new email addresses, telephone numbers or physical addresses.
UK registered limited company’s details
This UK registered company that fraudsters are claiming to work for has no association with the ‘clone firm’. The UK registered company is not authorised by the FCA to carry out any regulated activities and its correct details are:
Firm name: BL & PL Limited formerly known as AL Asset Management Limited
Company number: 03558257
Registered Office: New Derwent House, 69-73 Theobalds Road, London WC1X 8TA
How to protect yourself
We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by us.
If a firm does not appear on the Register but claims it does, contact our Consumer Helpline on 0800 111 6768.
There are more steps you should take to avoid scams and unauthorised firms.
If you use an unauthorised firm, you won’t have access to the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) so you’re unlikely to get your money back if things go wrong.
If you use an authorised firm, access to the Financial Ombudsman Service and FSCS protection will depend on the investment you are making and the service the firm is providing. If you would like further information about protection, the authorised firm should be able to help.
Report an unauthorised firm
If you think you have been approached by an unauthorised firm or contacted about a scam, you should contact our Consumer Helpline on 0800 111 6768. If you were offered, bought or sold shares, you can use our reporting form.