FCA and FSCS: “Investors should do more research”

FCA and FSCS say investors must conduct more research to protect themselves against online scams

A survey by the Financial Services Compensation Scheme (FSCS) and Financial Conduct Authority (FCA) found that many investors avoid doing due diligence because they found the process “complicated” and “time consuming.” According to the results of the study, 42% of Britons aged 18 to 24, who have money in investments, claim their latest investment was…

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Sister and brother charged with £100m crypto scam

US authorities to prosecute brother and sister caught in crypto scam

Earlier this month, US authorities exposed another reason why you should be cautious of crypto-opportunities following the arrest of two siblings charged with of using a crypto scam to defraud investors out of $124 million (around £95m). Although we have recently posted several blogs on crypto scams, this story deserves coverage for two reasons: More…

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FCA targets unregulated investment scammers

Financial Conduct Authority targets online scammers

The Financial Conduct Authority (FCA), which regulates financial companies providing services to consumers, announced plans to increase preventative action against potential consumer scam investments. Apparently, the FCA stopped one in every four bogus companies from entering the market in 2021. The figure had been one in five in 2020. While these statistics are reassuring, punishing…

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How to avoid social media scams

An increasing number of people falling victim to social media investment scams

An increasing number of people are being duped into investing in social media scams. According to the US-based Federal Trade Commission, social media was “…far more profitable to scammers in 2021 than any other method of reaching people.” When you think about it, social media is a scammer’s dream. They have access to the same…

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Corporate fraudsters: Are UK laws tough enough?

Why are the US government's fraud laws more strict?

Several articles discussing UK fraud laws have been knocking about over the past week, and a few of them ask a fascinating question: Compared to the USA, is the UK tough enough on corporate wrongdoing? It’s safe to say the answer is ‘No’. Now, by no means is the American justice system due any praise…

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How to make choices for unregulated investments

How to make choices for unregulated investments

There are many companies out there claiming to offer investors glorious returns, the dream scenario. They lure you in with promises and assurances that you’ll get far more investing with them than with banks. While that may be true on occasion, often these investment opportunities are unregulated. What is an unregulated investment? A business must…

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