Context
The FCA has issued a press release warning consumers of fraudsters impersonating the FCA, revealing it received almost 5,000 fake FCA scam reports in the first half of 2025.
Key points to note and next actions
- There have been 4,465 reports of fake FCA scams to the regulator’s consumer helpline already this year. 480 victims were duped into sending money to the fraudster.
- The majority, almost two-thirds, of reports came from people 56 years old or above.
- One of the most common scam methods reported is fraudsters claiming that the FCA has recovered funds from a crypto wallet that was opened illegally in the individual’s name.
- Another common method is to target loan scam victims, who are often very vulnerable, and claim the FCA can help them recover the money they have lost. They are then persuaded to hand over further funds.
- A separate trend involves emailing consumers telling them their creditors have taken out a County Court Judgement against them and they need to pay the FCA the monies owed.
- The press release includes tips to avoid fake FCA scams.