The UK Financial Conduct Authority has launched Firm Checker, a consumer-facing tool aimed at reducing investment and pensions-related scams by helping people confirm whether a firm is authorised and has the correct permissions to provide the service being offered. The launch follows FCA research indicating that around 800,000 people reported losing money to investment or pensions-related fraud or scams in the 12 months to May 2024. The research found those affected by Authorised Push Payment fraud or unauthorised investment or pensions-related fraud most often first encountered the opportunity via social media promotion (17%) or a telephone call (17%), with 16% initially approached via text message, WhatsApp or another messaging service. The FCA warns scammers can impersonate legitimate firms and advises consumers to check not only authorisation for the relevant activity but also that the contact details match those shown on Firm Checker; the Financial Services Register remains the full regulatory record. The FCA also reported that 72% of adults always or usually reject or ignore unsolicited calls, emails or texts about investment or pension opportunities, while 60% always or usually verify authenticity before sharing personal or financial information. It will continue to refine Firm Checker to improve clarity and user experience.
Financial Conduct Authority 2025-12-09
UK Financial Conduct Authority launches Firm Checker to help consumers verify authorised firms and avoid investment and pension scams
The UK Financial Conduct Authority (FCA) has launched Firm Checker, a tool to help consumers verify firm authorisation and permissions, aiming to reduce investment and pensions-related scams. FCA research shows around 800,000 people reported financial losses to such scams in the year to May 2024, often initiated via social media or phone. The FCA advises verifying firm details on Firm Checker and warns of scammers impersonating legitimate firms.