How to check an investment firm after the FCA’s latest scam crackdown
Before handing over money, use the FCA's Firm Checker to confirm that the firm is authorised and has permission to provide the investment service being offered. Authorisation alone is not enough because a firm may be allowed to carry out one activity but not another.
This matters after the FCA’s international action against illegal financial promotions in April 2026. Seventeen regulators participated. In the UK, the FCA requested the removal of 120 social media accounts containing 1,267 illegal adverts that had reached at least 2.3 million UK accounts. It issued 34 new alerts and updated 14 warnings. Around 66% of the adverts were linked to firms or individuals already on its Warning List.
What the FCA’s action means
A polished website, social media following or celebrity endorsement does not prove that an investment firm is genuine. Scammers may copy the name, address, website and Firm Reference Number of an authorised business or create a fake platform displaying invented profits.
The FCA’s dozens of fresh warnings show why you should check a firm before paying rather than rely on convincing marketing.
The checks that matter
Use the Firm Checker properly. Search for the business and select the product or service you are considering. Confirm that the firm has permission to offer it.
Match the details. Compare the name, Firm Reference Number, telephone number, email address and website with the FCA listing. Contact the firm using those details, not the information in an advert or message.
Look for clone warnings. Search the FCA Warning List for the name, website and telephone number. A firm absent from the list may still be unauthorised because scammers frequently change identities.
Check further restrictions. The Firm Checker does not display every restriction, client-money permission or financial-promotion approval. Use the Financial Services Register where more detail is needed.
If the firm cannot be found, claims the FCA information is outdated or discourages you from checking, call the FCA on 0800 111 6768.
Warning signs around the investment
Be wary of unsolicited contact, guaranteed returns, urgent deadlines and requests to send money to a personal or unrelated account. Scammers may allow a small withdrawal before demanding more money for supposed tax, insurance or release fees.
Fake investment platforms explains how fabricated dashboards are used to build trust. Most direct cryptoasset investment activity remains outside FCA regulation, so Financial Ombudsman and FSCS protection will generally not apply simply because a crypto business is registered for anti-money-laundering supervision.
What protection may be lost
If you deal with an unauthorised firm, the Financial Ombudsman Service will usually be unable to consider a complaint about it, and the Financial Services Compensation Scheme will not protect you if the firm fails.
Protection is not automatic even with an authorised firm. It depends on the product, regulated activity and circumstances, so check the firm’s precise permissions.
If you have already paid
Contact your bank immediately using the number on your card or statement. Ask it to try to stop or recover the payment and record the matter as fraud. Report the firm to the FCA and report the loss to Report Fraud. In Scotland, contact Police Scotland on 101.
Our guide to what to do in the first 48 hours sets out the immediate steps. Whether money sent by transfer, card or crypto can be recovered depends on how it was paid, where it went and how quickly you acted.
Be cautious of unsolicited recovery offers. Recovery room scams often target previous victims with guarantees or demands for advance payments. Check the provider’s regulatory status, written terms and fees independently.
Get help
Claim First can assess possible complaint and scam recovery options. How scam recovery services work explains what may be realistic. We also assist with mis-sold car finance, payday loan refunds and housing disrepair claims.
Claim First is a trading style of M G Financial Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 832131). You can make a claim yourself for free directly to your lender, and if rejected, you can take your claim to the Financial Ombudsman Service.
