Finansinspektionen warns against DuPont FX Clone Scam

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finansinspektionen Swedish Financial Supervisory Authority warning

Two weeks ago, we had reported on a warning issued by the British Financial Conduct Authority (FCA) against a firm using the name DuPont Financial/ DuPont FX/ DP Global Services Ltd, the fraudsters behind which were found to be cold calling people in the UK, trying to convince them that they represented a genuine, regulated firm, when in fact they were not, since they were merely trying to clone an authorized entity with a similar name.

In true evidence of the global nature of the financial markets and the problems they face, it appears that the same fraudsters were also active in another jurisdiction as well, that of Sweden, where they also attempted to attract customers under the same false pretences and offer them trading in financial investments through DuPont Financial/DuPont FX/DP Global Services Ltd.

This has forced the national watchdog, the Swedish Financial Supervisory Authority (Finansinspektionen) to issue a relevant warning to investors that the firm in question is unauthorized and to clarify that  there is no connection whatsoever between the legitimate DuPont company and the unauthorized DuPont Financial/DuPont FX/DP Global Services Ltd entity that is operating in the United Kingdom.

According to the warning issued by Finansinspektionen “Representatives from DuPont Financial/DuPont FX/DP Global Services Ltd (clone of authorised firm) are using the details of an authorised firm to try to convince people that they work for a genuine, authorised firm,” while the Swedish authority also pointed out to Swedish investors that the tactic of cloning an authorized firm is a usual method employed by fraudsters when contacting people in order to offer them investment services.

 

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