FCA Warns UK Consumers About Unauthorised Firm GallaeciaFX.com

The UK Financial Conduct Authority (FCA) has warned that GallaeciaFX.com may be providing or promoting financial services without its permission and could be targeting people in the UK. The regulator advises consumers to avoid dealing with the firm. It lists the name as GallaeciaFX.com, the website as www.gallaeciafx.com and the email address as [email protected]. The FCA says the firm is not authorised by it. Consumers who deal with an unauthorised firm cannot complain to the Financial Ombudsman Service about that firm and are not protected by the Financial Services Compensation Scheme if it fails. The FCA warns that customers are therefore unlikely to recover their money if the firm goes out of business. The warning also notes that people who sent money to a fraudster on or after 7 October 2024 may be covered by protections introduced by the Payment Systems Regulator. Anyone who believes they have made a payment to a scam account can check the regulator’s guidance on what to do next. Consumers can check whether a financial business is authorised and permitted to provide a particular service using the FCA Firm Checker. The FCA cautions that unauthorised firms may use incorrect or changing contact details, or details belonging to another business or person. Anyone contacted unexpectedly should verify the firm and use contact information listed in the Firm Checker. Suspected approaches by unauthorised firms can be reported to the FCA on 0800 111 6768 or through its contact form.