FCA Warns UK Consumers Against Unauthorised Firm ALSET MARKETS

The UK Financial Conduct Authority (FCA) has warned consumers not to deal with ALSET MARKETS, saying the firm is unauthorised and may be targeting people in the UK. The warning covers financial services or products the firm may be providing or promoting without FCA permission. The FCA lists ALSET MARKETS at 1 Canada Square, Canary Wharf, London, and Mainzer Landstrasse 50, Frankfurt, Germany. It also names www.alsetmarkets.com as the firm’s website and provides an email contact. The regulator cautions that unauthorised firms can use incorrect or changing contact details, including addresses and email addresses, or details belonging to another business or person. Consumers who deal with the firm will not have access to the Financial Ombudsman Service to complain and will not be protected by the Financial Services Compensation Scheme if the firm fails. The FCA says this makes it unlikely customers would recover their money in that situation. People who sent money to a fraudster on or after 7 October 2024 may have protections introduced by the Payment Systems Regulator, depending on the circumstances. The FCA advises checking a firm and its permissions through the FCA Firm Checker before dealing with it, and using the verified contact details listed there if contacted unexpectedly. Anyone who believes they have been approached by an unauthorised firm can report it to the FCA by calling 0800 111 6768 or using the regulator’s contact form.