The Financial Conduct Authority (FCA) has issued a warning about a fake website very similar to that of Shawbrook Bank.
Trading under the name of Shawz Online Brook, the website looks almost identical to that of Shawbrook Bank, with the same layout, familiar logo and identical customer recommendations
But the FCA has warned that the copy-cat bank is not authorised to carry out any regulated financial activity within the UK.
This means that anyone taking out a product with Shawz Online Brook would not be protected under the Financial Services Compensation Scheme, whereby the first £85,000 saved in a UK bank or building society is covered in the event of the organisation going bust.
They would also not be able to take any complaints they had with the bank to the Financial Ombudsman Service.
"Shawbrook Bank Limited would like to inform the public that the organisation discussed above identifying itself as Shawz Online Brook has no association whatsoever with Shawbrook Bank Limited," the FCA stated on its website.
Meanwhile, Shawbrook Bank's CEO, Ian Henderson, told Moneyfacts.co.uk that: "Shawbrook immediately alerted the FCA and is taking steps to mitigate the risks to potential customers that are being targeted by these websites. Shawbrook takes the issue of security very seriously."
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