FCA Warns Against Trading With Reg Investment Bank

Another day, another scam warning from the UK's Financial Conduct Authority (FCA).

This time it's regarding a company that calls itself Reg Investment Bank. According to the FCA, the company is offering its services to members of the great British public without having the required licensing.

The company appears to have been contacting people by cold-calling them and shooting spam all over their email inboxes.

Like so many other fraudsters, Reg Investment Bank says that it's based in London. Unlike other fraudsters, the company doesn't claim to be based in London's financial district.

The company says that it is based in Belgravia, close to the home of her Majesty Queen Elizabeth - Buckingham Palace.

Fake Offices

During the halcyon days of youth, this author misspent many a day wandering among the streets close to where Reg Investment Bank claims to be and can say, with near certainty, that it does not have an office there.

But it's not just my teenage travails that tell me this is a fake address - past experience confirms that many of these companies claim to have an office but don't have anything of the sort.

To be fair to Reg Investment Bank, their website is nowhere near as crap as many of the others that are active in the fraudster game.

For one thing, they aren't just hocking binary options or Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

No, Reg Investment Bank goes the full nine yards - the company is selling loans, credit cards, investment products, and even car insurance.

The likelihood is that this company does what so many of the other fraudsters in the fraudster world are doing, getting you to deposit money and then running off with it.

Frankly, it's about time they came up with some new and interesting way to steal people's money, even if the end result is the same. What that 'something' will be, I leave to the fraudsters to decide.