Abrdn’s European High Yield Bond Fund and Strategic Bond Fund have been cloned by scammers, according to a warning issued by the FCA.
The fraudsters are using the funds’ product reference numbers to pose as Aberdeen Standard Investments.
The Abrdn European High Yield Bond Fund (PRN: 638007) invests in Sterling and Euro denominated sub-investment grade (high yield) corporate bonds and has £29.3m invested.
The scammers are referring to the fund as the ASI European High Yield Bond Fund but the genuine fund was renamed in July following the rebranding of Abrdn.
The Abrdn Strategic Bond Fund (PRN: 692498) is a popular strategic bond fund with £132.3m invested.
The scammers are referring to the fund as the ASI Strategic Bond Fund but the genuine fund was renamed in July following the rebranding of Abrdn.
Scammers began using the firm’s details to con money out of consumers in June 2020.
Clone firms are typically used by fraudsters who cold call and may use the genuine firm reference and product reference numbers from the real firm they are impersonating.
The scammers are using several email addresses including This email address is being protected from spambots. You need JavaScript enabled to view it., This email address is being protected from spambots. You need JavaScript enabled to view it., This email address is being protected from spambots. You need JavaScript enabled to view it., This email address is being protected from spambots. You need JavaScript enabled to view it., This email address is being protected from spambots. You need JavaScript enabled to view it., This email address is being protected from spambots. You need JavaScript enabled to view it., This email address is being protected from spambots. You need JavaScript enabled to view it.
They are also using a range of London-based phone numbers.
The FCA said the scammers may give out other false details or mix these with some correct details of the registered firm.
The Abrdn firms are not the only ones to be currently being cloned by scammers.
Scammers have set up a cloned version of the Schroders Income Growth fund (SCF) plc to lure investors into transferring their money.
Many financial services companies have become the victims of clone attacks, including in recent times several Financial Planning firms.
The FCA urged investors potentially approached by the scammers to only deal with financial firms that are authorised by the FCA and to check the Financial Services (FS) Register.
If a firm does not appear on the FS Register but claims it does, investors can contact the FCA Consumer Helpline on 0800 111 6768.
