Algoproai / premiumalgoproai.com Clone of FCA Authorised Firm

What Is This Scam?

Algoproai, operating under the domain premiumalgoproai.com, is a fraudulent financial services operation that impersonates a legitimate, FCA-authorised firm. This scam targets individuals seeking investment and asset management services by creating a false sense of legitimacy through cloning the identity of an established regulated company.

The scam operates by misusing the name, address, contact details, and regulatory credentials of a genuine financial institution. Victims who believe they are engaging with a regulated, trustworthy firm are instead communicating with unlicensed fraudsters. The sophistication of these cloned websites makes them difficult for untrained eyes to distinguish from legitimate operations, which is precisely what makes this type of fraud particularly dangerous.

Who Are They Impersonating?

The fraudulent operation impersonates Mirabaud Asset Management Limited, a legitimate FCA-authorised financial services firm. The genuine company operates from the following verified details:

• Firm Name: Mirabaud Asset Management Limited
• FCA Firm Reference Number: 122140
• Registered Address: 10 Bressenden Place, London, SW1E 5DH, United Kingdom
• Official Telephone: +44 020 3167 7000
• Legitimate Email Contact: [email protected]
• Official Website: www.mirabaud.com
• Regulatory Authority: Financial Conduct Authority (FCA)

Mirabaud Asset Management Limited is properly registered and regulated by the FCA. The scammers behind Algoproai have copied this legitimate firm's identity to deceive consumers into trusting their fraudulent operation.

Evidence & Regulatory Action

Multiple regulatory authorities have identified and warned about this scam. The Financial Conduct Authority issued an official warning on December 27, 2024, stating that "Algoproai / premiumalgoproai.com is not authorised or registered by the FCA but has been targeting people in the United Kingdom."

The scam has also been flagged by international regulatory bodies. The International Organization of Securities Commissions (IOSCO) has registered this entity as an unregistered/unlicensed operation offering financial products or services. The Dutch regulator AFM (Autoriteit Financiële Markten) issued a consumer warning on January 7, 2025, noting this as a warning from a foreign supervisory authority.

The FCA Register itself contains notices identifying Algoproai as a clone of an FCA-authorised firm, with the warning added to the register on December 3, 2024.

Red Flags

• Domain name premiumalgoproai.com does not match the legitimate www.mirabaud.com
• Email address [email protected] is not an official Mirabaud contact
• The operation is not listed on the FCA Register as an authorised firm
• Multiple international regulators have issued specific warnings about this entity
• The scammers have copied the legitimate firm's registered address to add credibility
• Official FCA warnings explicitly state this firm is not authorised or regulated
• The website and communications claim regulatory status they do not possess

What To Do If You Have Been Contacted

If you have been approached by or have engaged with premiumalgoproai.com or received communications from [email protected], take the following steps immediately:

• Do not send any money or personal financial information to this entity
• Do not provide banking details, identification documents, or investment funds
• Verify any firm's legitimacy by checking the FCA Register at register.fca.org.uk
• Report the scam to the FCA's Consumer Awareness Team using their official reporting channels
• Contact Action Fraud (the UK's national fraud reporting centre) to file a formal complaint
• Alert your bank immediately if you have already transferred funds
• Monitor your financial accounts and credit reports for suspicious activity
• Keep all correspondence and evidence of contact with the fraudsters for regulatory authorities