FCA Warns Against Unauthorised Valora Financial Bank

The Financial Conduct Authority (FCA) has warned consumers against dealing with Valora Financial Bank, saying the firm is unauthorised and may be targeting people in the UK. The warning covers the name Valora Financial Bank and the website valorafinancialbank.com, which the firm lists alongside an address at 15 Mayfair Place, London, W1J 8AJ, and telephone number 7348204490. The FCA says firms and individuals generally need its authorisation or registration to provide or promote financial services in the UK. It also cautions that unauthorised firms may use incorrect or changing contact details, including details belonging to another business or individual. Consumers should therefore check the firm and the specific services offered through the FCA Firm Checker, rather than relying on contact information supplied by the business. People who deal with an unauthorised firm cannot take complaints about it to the Financial Ombudsman Service and are not protected by the Financial Services Compensation Scheme if the firm fails. The FCA says recovery of money in that situation is unlikely. For payments sent to a scam account on or after 7 October 2024, some protections introduced by the Payment Systems Regulator may apply. Anyone who believes they have been approached by an unauthorised firm can contact the FCA on 0800 111 6768 or submit its contact form. The regulator advises consumers contacted unexpectedly by a financial business to use the contact details shown on the Firm Checker when verifying or replying to it.