Nearly 5,000 Fake FCA Scams Reported in Just Six Months

Fraudsters pretending to be the Financial Conduct Authority (FCA) have targeted thousands of people this year, with almost 5,000 fake FCA scams reported in the first half of 2025¹.

The FCA has issued a stark warning after its consumer helpline received 4,465 reports of scammers posing as its staff in the first half of 2025. Of these, 480 people were tricked into handing over money, with some possibly losing significant amounts of savings¹.

Almost two-thirds of victims were aged 56 or over¹, making older homeowners and retirees a particular target for these ruthless criminals.

How the Scams Work

The scams are becoming increasingly sophisticated, using phone calls, emails, texts and even WhatsApp messages to contact potential victims. Once trust has been gained, the fraudsters try to steal money or sensitive details such as bank account PINs and passwords.

Common scam tactics reported to the FCA include¹:

• Crypto wallet scams: Victims are told that a cryptocurrency wallet has been illegally opened in their name and that funds have been recovered, but they must pay a fee to access the money.

• Loan scam follow-ups: People who have already fallen victim to a loan scam are targeted again. Fraudsters claim the FCA can recover their money, but ask for further payments to do so.

• Fake County Court Judgements: Victims receive fake legal letters or emails stating that a creditor has taken out a County Court Judgement against them. They are then told they must pay the FCA directly to settle the debt.

• ‘Pig butchering’ scams: A disturbing trend where criminals build a personal or romantic relationship with a victim to gain trust, then lure them into a long-term investment scam. After the victim has lost money, the fraudsters pose as the FCA offering to help recover the funds, only to defraud them a second time.

  
  

Warning from the FCA

Steve Smart, joint executive director of enforcement and market oversight at the FCA, said¹:

“Fraudsters are ruthless. They attempt to steal money from innocent victims by impersonating the FCA.

We will never ask you to transfer money to us or to provide sensitive banking information such as account PINs and passwords. If you are in doubt, always check.”

In the whole of 2024 there were 10,379 reports of fake FCA scams, meaning 2025 is already on track to surpass last year’s figures.

Why Homeowners and Landlords Are at Risk

Homeowners and landlords are often prime targets because criminals assume they have significant assets tied up in property or investments. Many scams also focus on mortgages or arrears, making fraudulent emails or calls seem more convincing.

If you are a landlord, you may also receive genuine correspondence from letting agents, tenants or solicitors, which can make it easier for criminals to disguise fake messages as legitimate.

How to Protect Yourself

The FCA has issued clear advice to help people avoid falling victim to scams¹:

• Be cautious if you receive unexpected contact, whether by phone, text, email or messaging apps.

• Never share sensitive personal information, such as bank PINs or passwords.

• If you are unsure whether a message or call is genuine, contact the FCA directly through its official website or online contact form.

• Report any suspected scams to Action Fraud by calling 0300 123 2040 or visiting its website.

• In Scotland, report to Police Scotland on 101 or call Advice Direct Scotland on 0808 164 6000.

  
  

Stay Alert

With nearly 5,000 fake FCA scams reported already this year, staying vigilant is essential. By double-checking any unexpected communication and knowing the signs of fraud, homeowners and landlords can protect themselves, their families and their hard-earned assets from criminals.

Source:

1.      FCA. (2025). Almost 5,000 fake FCA scams reported in first 6 months of 2025. [online] Available at: https://www.fca.org.uk/news/press-releases/fake-fca-scams-reported-6-months-2025      [Accessed 22 Sep. 2025].

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All the information in this article is correct as of the publish date 25^th September 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

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