Financial Conduct Authority warns consumers about impersonation scams after nearly 5,000 fake FCA reports in first half of 2025

The Financial Conduct Authority published a consumer warning about fraudsters impersonating the FCA, reporting almost 5,000 fake FCA scam cases in the first half of 2025 and highlighting that victims are being tricked into sending money or sharing sensitive information. It reiterated that the FCA will never ask people to transfer money to it or disclose banking details such as PINs and passwords. The FCA’s consumer helpline has received 4,465 reports of fake FCA scams so far in 2025, with 480 victims sending money to fraudsters; almost two-thirds of reports came from people aged 56 or above. Common tactics include claims that the FCA has recovered funds from a crypto wallet opened illegally in the victim’s name, approaches to loan-scam victims offering “recovery” help while extracting further funds, and emails alleging a County Court Judgement requiring payment to the FCA; the update also flags “pig butchering” scams where victims are targeted a second time by fraudsters posing as the FCA. For context, across 2024 the FCA received 10,379 reports of fake FCA scams and 991 people handed over money.