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The Financial Conduct 
Authority has issued a warning to consumers regarding an unauthorised organisation identifying itself as Shawz Online Brook, which is a clone of the FCA-authorised firm Shawbrook Bank.
The website of the firm is very similar to that of Shawbrook Bank and even features the bank’s distinctive pink logo.
The FCA said of Shawz Online Brook:
“[It] is not authorised under the Financial Services and Markets Act 2000 to carry on a regulated activity in the UK. Regulated activities include, amongst other things, accepting deposits by way of business. We believe that the organisation may be targeting UK customers.”
Shawbrook Bank has stressed that the firm has no association with it and that they alerted the FCA as soon as they became aware of the clone.
If a consumer deals with unauthorised firms, help from the Financial Ombudsman Service and the Financial Services Compensation Scheme are not available.
