UK FCA Launches Authorised Firm Checker Tool to Verify Authorized Services to Help Consumers to Avoid Scams, UK Financial Services Register Remains, UK FCA Survey Estimates Around 800,000 UK Adults Experienced Pensions &/or Investments Related Fraud or Scam Over 12 Months (2023 June to 2024 May)
11th December | Hong Kong
UK Financial Conduct Authority (FCA) has launched an authorised Firm Checker tool to verify authorized services to help consumers to avoid scams. The existing UK Financial Services Register will remain. The UK FCA survey estimates around 800,000 UK adults had experienced pensions &/or investments related fraud of scam over 12 months (2023 June to 2024 May). Announcement (10/12/25): “Around 800,000 people reported losing money to investments or pensions‑related scams in the 12 months to May 2024, according to FCA research. To help fight this financial crime, the FCA has launched Firm Checker, a tool to help consumers avoid scams. By using the tool and checking if a firm is authorised and has the correct permissions to provide services, people can significantly reduce their chances of falling victim to fraud. Those who had experienced any Authorised Push Payment (APP) fraud or unauthorised consumer investments or pensions-related fraud, were most likely to have heard about it by seeing it promoted on social media – around 1 in 6 (17%) – or via a telephone call (17%). Sixteen per cent were initially approached via text message, WhatsApp or another messaging service. Scammers can make it difficult for consumers to know if they are dealing with the real firm. In addition to checking if a financial services firm is authorised by the FCA for the services being offered, people should also confirm that the contact details match those listed on the FCA Firm Checker … … The research also found consumers are taking some precautions to protect against fraud, but there is room for improvement. Around 3 in 4 (72%) adults said they always or usually reject or ignore unsolicited calls, emails or text messages about investment or pension opportunities. Six in 10 (60%) consumers reported that they always or usually verify the authenticity of emails, messages or calls before providing personal or financial information.”
“ UK FCA Launches Authorised Firm Checker Tool to Verify Authorized Services to Help Consumers to Avoid Scams, UK Financial Services Register Remains, UK FCA Survey Estimates Around 800,000 UK Adults Experienced Pensions &/or Investments Related Fraud or Scam Over 12 Months (2023 June to 2024 May) “
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Notes:
- Visit FCA Firm Checker.
- The latest FCA Financial Lives 2024 report was published in May 2025:
- In the survey of 17,950 people, representative of all UK adults, 1.5% reported experiencing a pensions-related and/ or an investments-related (including cryptocurrency) fraud or scam in the 12 months to May 2024. Extended to the general population, this works out at around 800,000 people.
- The investments or pensions‑related fraud or scams figures are not comparable to previous years due to changes in how the FCA asked about fraud in the 2024 survey.
- Firm Checker has been specially designed for, and tested with, consumers to make sure it is effective and easy to use. The Financial Services Register remains in place as the full regulatory record of the authorised financial services population.
- The FCA continues to explore where further clarity can be added and is making improvements where necessary to ensure the best possible user experience.
- Firm Checker is one of a number of ways people can seek to protect themselves from scams.
- Using an authorised firm can also bring other benefits as authorised firms must meet FCA standards and follow the FCA’s rules. Consumers can also take a complaint to the Financial Ombudsman Service and are more likely to benefit from protection from the Financial Services Compensation Scheme.
- The FCA enables a fair and thriving financial services market for the good of consumers and the economy. Find out more about the FCA.
UK FCA Launches Authorised Firm Checker Tool to Verify Authorized Services to Help Consumers to Avoid Scams, UK Financial Services Register Remains, UK FCA Survey Estimates Around 800,000 UK Adults Experienced Pensions &/or Investments Related Fraud or Scam Over 12 Months (2023 June to 2024 May)
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