FCA Issues 19 Warnings in One Week Over Scam and Clone Investment Firms

The UK’s financial regulator flagged 19 unauthorised or clone firms in seven days, urging consumers to verify any firm before handing over money.

The Financial Conduct Authority posted on social media that it issued 19 warnings about unauthorised or clone firms in a single seven-day period — though that specific weekly figure has not been independently verified against publicly available FCA data. What is verified: the regulator issued 2,329 warnings about unauthorised or potentially scam firms across the whole of 2025, up from 2,240 in 2024, the figures show.

Clone firms copy the names or reference numbers of legitimate FCA-authorised businesses to appear genuine, while unauthorised firms simply operate without FCA permission. Anyone who loses money dealing with either type is generally not covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme — which protects eligible deposits up to £85,000 per person with authorised firms. Without that protection, there’s no formal route to get money back.

For Kent residents using online investment platforms, crypto services, forex trading or loan providers, the risk is the same as anywhere else in the UK — these firms operate remotely and target consumers digitally regardless of location. The FCA’s Firm Checker tool, introduced in January 2025, has been used an estimated 1.9 million times since launch, suggesting many consumers are already checking before they commit.

But critics argue warnings alone aren’t enough. Some consumer advocates say scam offers still reach people through social media, messaging apps and online adverts faster than regulators can act, and call for stronger enforcement before victims accumulate rather than after.

The FCA’s own strategy targets illegal financial promotions — including those pushed by so-called “finfluencers” — alongside market abuse and investment fraud, and the regulator has coordinated international enforcement actions resulting in arrests and hundreds of social media takedown requests.

Key information

• Check any firm before investing using the FCA Financial Services Register or Firm Checker at fca.org.uk
• Consult the FCA Warning List for recent alerts about unauthorised and clone firms before transferring a pension, taking a loan or opening a trading account
• FSCS covers up to £85,000 per person per firm — but only if the firm is FCA-authorised; unauthorised firms carry no such protection
• Report suspected scams to the FCA via its consumer helpline: 0800 111 6768