The Financial Conduct Authority claimed this week to have flagged 75 unauthorised or clone firms in seven days — a figure that could not be independently verified — urging consumers to check its Warning List before handing over money or personal details.
The Financial Conduct Authority posted on social media this week that it had issued 75 warnings about unauthorised or clone firms in the past seven days — though that specific weekly figure could not be independently verified from published FCA data and should be treated as unverified. Compared with a similar post on 14 November 2025, when the regulator reported 72 new warnings in seven days, the figures show a consistent pattern of dozens of alerts being issued every week. Across 2025 as a whole, the FCA reported issuing 2,329 warnings about unauthorised or potentially scam firms, up from 2,240 in 2024.
For Kent residents, the risk is direct. Anyone who deals with an unauthorised firm — whether an online investment platform, a crypto service, or a firm falsely claiming FCA authorisation — loses the right to complain to the Financial Ombudsman Service or claim compensation through the Financial Services Compensation Scheme if something goes wrong. Clone firms make this harder to spot: they copy the name, registration number, address, or branding of genuine authorised firms to appear legitimate.
The FCA’s Warning List now contains over 18,000 entries. But the regulator itself cautions that absence from the list doesn’t guarantee a firm is safe — some unauthorised operations simply haven’t been identified yet.
The FCA’s Financial Services Register lets consumers check whether a firm is genuinely authorised and holds the right permissions before any money changes hands. Anyone who believes they’ve been targeted by a scam can report it directly to the FCA, and is advised to contact their bank immediately. Kent residents can also report suspected fraud to Action Fraud or Kent Police, with local Citizens Advice bureaux able to provide further guidance.
Key information
- Check the FCA Warning List at the FCA’s official website by searching a firm’s name, registration number, or individual’s name before engaging
- Verify authorisation using the FCA’s Financial Services Register (Firm Checker) to confirm a firm holds the correct permissions
- Report suspected scams to Action Fraud (0300 123 2040) or directly to the FCA via its website; contact your bank immediately if you’ve transferred money
- Clone firms often copy genuine firms’ details exactly — always contact the authorised firm using contact details from the FCA Register, not those provided by the firm approaching you
Source: @TheFCA