Quilter has launched a new method through which people can report impersonation scams, as the number of fraudulent “clone” firms rises sharply.

The wealth management group said its own analysis of the FCA’s warning list showed scams that impersonate a regulated financial services firm have increased by 634 percent since 2010. Impersonation scams now account for 37 percent of all FCA warnings issued since 2010.

Quilter’s online form will allow anyone who believes they have been exposed to an impersonation scam that features Quilter’s branding or marketing ...