Scammers clone 2 Abrdn bond funds

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Abrdn’s European Excessive Yield Bond Fund and Strategic Bond Fund have been cloned by scammers, in keeping with a warning issued by the FCA.

The fraudsters are utilizing the funds’ product reference numbers to pose as Aberdeen Normal Investments.

The Abrdn European Excessive Yield Bond Fund (PRN: 638007) invests in Sterling and Euro denominated sub-investment grade (excessive yield) company bonds and has £29.3m invested.

The scammers are referring to the fund because the ASI European Excessive Yield Bond Fund however the real fund was renamed in July following the rebranding of Abrdn.

The Abrdn Strategic Bond Fund (PRN: 692498) is a well-liked strategic bond fund with £132.3m invested.

The scammers are referring to the fund because the ASI Strategic Bond Fund however the real fund was renamed in July following the rebranding of Abrdn.

Scammers started utilizing the agency’s particulars to con cash out of shoppers in June 2020.

Clone corporations are sometimes utilized by fraudsters who chilly name and will use the real agency reference and product reference numbers from the true agency they’re impersonating.

The scammers are utilizing a number of e mail addresses together with This e mail handle is being protected against spambots. You want JavaScript enabled to view it., This e mail handle is being protected against spambots. You want JavaScript enabled to view it., This e mail handle is being protected against spambots. You want JavaScript enabled to view it., This e mail handle is being protected against spambots. You want JavaScript enabled to view it., This e mail handle is being protected against spambots. You want JavaScript enabled to view it., This e mail handle is being protected against spambots. You want JavaScript enabled to view it., This e mail handle is being protected against spambots. You want JavaScript enabled to view it.

They’re additionally utilizing a spread of London-based telephone numbers.

The FCA mentioned the scammers could give out different false particulars or combine these with some appropriate particulars of the registered agency.

The Abrdn funds aren’t the one ones being cloned by scammers.

The FCA warned in October that scammers have cloned a well-liked Schroders’ fund and try to con buyers out of their cash.

Scammers arrange a cloned model of the Schroders Revenue Development fund (SCF) plc to lure buyers into transferring their cash.

Many monetary providers firms have change into the victims of clone assaults, together with in current occasions a number of Monetary Planning corporations.

The FCA urged buyers doubtlessly approached by the scammers to solely take care of monetary corporations which might be authorised by the FCA and to verify the Monetary Companies (FS) Register.

If a agency doesn’t seem on the FS Register however claims it does, buyers can contact the FCA Client Helpline on 0800 111 6768.




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