Thoughts on Finance, Current Affairs and General Consumer Ripoffs - Damn Lies and Statistics

 The FCA have taken High Court action against the people behind Concept Capital Group which was reported here back in 2021 with many replies from them protesting their innocence. FCA disagreed and have accused them of operating an unauthorised investment scheme and misleading consumers with false information. It's unclear how this might affect anyone who has invested money with them. According to the article on their website it's a total of £23million that has been collected by Concept Capital https://www.fca.org.uk/news/press-releases/fca-acts-alleged-23-million-unauthorised-collective-investment-scheme The risks that were hidden on the Concept Capital website

Further to the previous post about Moneda Capital it seems they are ramping up their sales pitch using the name My Savings Hub. The following was reported by someone who was contacted by them after filling in a contact form from their advert on Facebook/Instagram. Be very, very careful if you are looking at savings options that are outside the FSCS protected range of UK banks. This company claim to use other banks but the banks have confirmed they are not an approved representative of them. If you hand over your money in the expectation it will be passed on to a bank like Close Brothers then you could be very disappointed and out of pocket. Email from Moneda Capital called My Savings Hub. Hope this email finds you well and good speaking to you as discussed, I recommend that you register to gain access to our other products. Our approach is very simple: We help you maximise your returns while eliminating the hassle of constantly tracking the best rates yourself by providing you with exc...

I've seen a company called Moneda Capital advertising heavily on Instagram and Facebook. I think it's likely to be quite confusing for anyone viewing the adverts as they're posted alongside established investment companies such as Investec and Interactive Investor.  Moneda Capital Advert for Savings at 4.9% with Unknown Bank Some people say that any investment on social media is a scam but that's clearly not the case when Investec and ii are both advertising. However it's worth flagging up the risks to anyone who is considering entrusting their money to Moneda Capital. Investec Advert for Savings at 4.84% I'm not sure what sort of organisation they are but their website seems to be hiding their company details so they aren't visible on their homepage. The legal requirement is to display the Company Info "prominently" so I don't think hiding this in their privacy policy follows the spirit of these rules even if it technically complies.  There ar...