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UK's FCA warned of a specific fraud in 2017 - the fraudster is still active.

BIScom Subsection: 
Author: 
Nigel Morris-Cotterill

Sometimes, one has to shake one's head in wonder. on 23rd October 2017, the UK's Financial Conduct Authority issued a notice about what it calls a "cloned firm." It's not a firm, it's a company. It would be really helpful if regulators used language more precisely. Anyway, it was this "Century Finance/Century Finance Services Limited/ Century Finance UK Limited."

The idiot that's running the scam has just sent to me - me, of all people - his pitch.

There's a chap using the name Carson Noah who gives his company as Century Finance Plc and claims to be the General Manager. That's an odd title in these days of inflationary descriptions. I accepted his connection request via LinkedIn at face value. Then this arrived.

Are you an individual businessman or a business organisation that wishes to expand in

business? We offer financial instrument such as BGs, SBLCs, MTNs, LCs, CDs and others on

lease and sales at a rate of 4%+2% of the face value and reasonable condition from a

genuine provider. You are at liberty to engage our leased facilities into trade programs as

well as in signatory project(s) such as Aviation, Agriculture, Petroleum, Telecommunication

and any other project(s) etc.

With our financial/bank instrument you can establish line of credit with your bank and/or

secure loan for your projects in which our bank instrument will serve collateral in your

bank to fund your project.

We deliver with time and precision as set forth in the agreement. Our terms and Conditions

are reasonable and we work directly with issuing bank lease providers, this instrument can

be monetized on your behalf for up to 100% funding. Intermediaries/Consultants/Brokers are

welcome to bring their clients and are 100% protected. In complete confidence, we will work

together for the benefits of all parties involved.

BROKERS ARE WELCOME & 100% PROTECTED!!!
Intermediaries/Consultants/Brokers are welcome to bring their clients and cases to our

attention and in complete confidence we will work together for the benefits of all parties

involve.

For further details contact us with the below information Thank you.

Contact Person: Mr. Carson Noah
Email: centuryfinanceplc@gmail.com
Skype ID: centuryfinanceplc

His photo is not him - it's bundles of Euros. Like Jack Reacher, a fictional character, likes to make up false names based on former American sportsmen, it seems that this nit likes to make up names based on American TV presenters: Johnny Carson has been crossed with Trevor Noah in a place called Rockford. It's a profile, Jim, but not as we know it. Also, he declared only one job - the one he claims to be in now.

Out of only 238 followers, he's got 19 in common with me. That's weird because most of them are in Malaysia which suggests that he's targeting residents here for his scam : no legitimate UK financial services business would have a predominantly Far East customer base and almost certainly not focussed on a single country.

So, obviously he's a fraudster.

Which brings us to the Financial Conduct Authority's warning more than two years ago.

It says:

Century Finance/Century Finance Services Limited/ Century Finance UK Limited (clone of FCA authorised firm)

Telephone: 0122 681 0286, 0122 681 0287, 01224 390443, 01225292363, 02820 140038, 0245 378646, 02031982010, +44 01226420013, 0208 144 8056

Email: centuryfinance02@gmail.com, centuryfinance08@gmail.com, info@centuryfinance.loan, centuryfinance@yahoo.co.uk, centuryfinance@yahoo.com, centuryfinance06@gmail.com, centuryfinance12@gmail.com, centuryfinance@gmail.com, centuryfinanceloans@gmail.com, centuryfinance44@gmail.com, centuryfinance07@gmail.com, centuryfinance04@gmail.com, centuryfinance11@gmail.com, centuryfinance05@gmail.com

Website: www.centuryfinance.loan

Address: 504 Roman Road, Bow, London E3 5LU​​​​​​​

Be aware that the scammers may give out other false details or mix these with some correct details of the registered firm.

This is the FCA's explanation:

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm.

Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm.

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 the genuine firm, the 'firm reference number' (FRN) we have given the authorised firm or other details.

This FCA authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm’. It is authorised to offer, promote or sell services or products in the UK and its correct details are:

Firm Name: Quick Loans Limited

Firm Reference Number: 763132

Address: 12 Churchfield Court, Barnsley, South Yorkshire, S70 2JT

Telephone: +44 01226420013

Email: help@quickloans.co.uk

Website: https://www.quickloans.co.uk

Clearly the FCA's notice hasn't stopped this fraud.

More importantly, LinkedIn is obviously not monitoring its platform for criminal activity and Google is still facilitating this fraud via its email service despite the list of addresses provided by the FCA.

It's not rocket science.

Gissa job. I can do that (quoted from The Boys from the Blackstuff, a UK drama series).

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