The Financial Conduct Authority published its annual report and accounts describing how it used data, technology and collaboration with online platforms to reduce consumer harm and financial crime, particularly by targeting unauthorised activity and non-compliant financial promotions in the final year of its 2022–2025 strategy. FCA action led to over 1,600 websites suspected of promoting financial services without permission being suspended, removed or blocked in 2024, alongside the removal of over 50 apps from Google Play and the App Store. Supervisory technology and interventions resulted in almost 20,000 non-compliant financial promotions being amended or withdrawn by authorised firms in 2024 (under 600 in 2021), while the FCA also targeted unlawful “finfluencer” activity through 20 interviews under caution and 38 alerts. Wider metrics in the report include 2,240 alerts about unauthorised firms and individuals, the cancellation of over 1,500 firm authorisations (20% more than in 2023), fines totalling over GBP 45.5m on two banks for financial crime control failures, and authorisations performance with over 99% of applications determined within statutory deadlines in Q4 2024/25. The report links these outcomes to the FCA’s shift into its next phase, with the regulator having published its 2025–2030 strategy on 25 March.
Financial Conduct Authority 2025-12-05
UK Financial Conduct Authority annual report highlights data-led crackdown with nearly 20,000 promotions corrected and 1,600 illegal websites disrupted
The Financial Conduct Authority's annual report highlights its use of data and technology to combat consumer harm and financial crime, focusing on unauthorised activity and non-compliant promotions. In 2024, the FCA suspended or blocked over 1,600 websites and removed more than 50 apps, while amending or withdrawing nearly 20,000 non-compliant promotions. The report also notes the cancellation of over 1,500 firm authorisations and fines over GBP 45.5 million for financial crime control failures.