Licence
Monafoli In UK lost their licence.
According to the UK Financial Conduct Authority (FCA), Monafoli never had a licence
Warnings First published: 21/12/2021 Last updated: 06/01/2023
We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary of dealing with this unauthorised firm and how to protect yourself.
Which suggests that the FCA have been warning people against dealing with Monafoli for more than three years now.
Recovery
How do I recover my portion?
The above FCA advice continues
This firm is not authorised by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.
The FCA have advice on What to do if you’ve been scammed
Report it
If you’re worried about a potential scam or you think you may have been contacted by a fraudster, report it to us. This could help prevent others falling victim to the same criminal.
Call us on 0800 111 6768 or use our contact form to get in touch.
For anything we don’t regulate, or if you’ve lost money to a scam, contact Action Fraud on 0300 123 2040 or via their websiteLink is external.
Be wary of future scamsIt’s important to be extra careful if you’ve already been scammed. Fraudsters could try and target you again, or they may sell your details to other criminals.
The new scam might be completely different, or it could be related to the previous scam. For example, you could be contacted with an offer to get your money back or to buy back an investment after you pay a fee. These are known as recovery room scams.
A UK resident might have grounds to contact the financial ombudsman, as others appear to have done or pay for legal advice and potential civil litigation as others apparently have but I would be extremely careful about which solicitors to approach and make sure any advice is realistic about the prospects.
Related Questions
