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Cloned licence, real bank recall: an €92,000 recovery

CASE FILE · CFH-CS-03
Vector: clone of regulated firmInstrument: bank transferLoss: €92,000Location: Dublin, IrelandTimeline: 9 daysRecovered: 88%

Reported operator: ForTradeFX ↗

How it began

The firm used the name and licence number of a well-known regulated broker. Everything matched when I checked casually, so I wired a large sum.

The trap

It was a clone. The real firm had nothing to do with it. The licence number was copied to win exactly the trust it won from me.

I checked the licence. I just did not check it against the real register.

What we did

  1. We confirmed within hours that the licence belonged to an unrelated, legitimate firm.
  2. We triggered an authorised-push-payment recall through your bank before the funds dispersed.
  3. We alerted the regulator whose identity had been cloned.
  4. We documented the impersonation for your bank fraud team.
88%

recovered — fast action made the difference.

Red flags we saw

  • Licence number that belongs to a different company
  • Bank-transfer-only deposits
  • Brand-new domain behind an “established” name

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