FCA Issues Warning on Rise of Fake FCA Scams

Key takeaways from the notice include:

➡️ 4465 reports of fake FCA scams were reported to the regulators consumer helpline in the first half of 2025;

➡️ 480 victims sent money to fraudsters as a result of these scams during the period;

➡️One of the most common scams involves fraudsters claiming the FCA recovered funds from a crypto wallet, opened illegally in the individual's name; and

➡️ Almost two-thirds of reports came from individuals aged 56 or older.

✅ Firms should review their fraud detection systems and controls, ensuring the latest typologies are incorporated to safeguard customers, reduce losses, and maintain compliance.