The Financial Conduct Authority (FCA) has led a coordinated international crackdown on illegal financial promotions by unauthorised online influencers, known as “finfluencers”.
Nine regulators from countries, including Australia, Canada, Hong Kong, Italy, the UAE and the UK, took part in a global enforcement effort that began on 2 June 2025.
In the UK, the FCA made three arrests in collaboration with the City of London Police, initiated criminal proceedings against three individuals and invited four others for interview.
It also sent seven ‘cease and desist’ letters and issued 50 warning alerts related to unauthorised promotions.
These alerts are expected to lead to more than 650 takedown requests on social-media platforms and the removal of over 50 websites operated by rogue finfluencers.
Steve Smart, joint executive director of enforcement and market oversight at the FCA, said: “Our message to finfluencers is loud and clear. They must act responsibly and only promote financial products where they are authorised to do so – or face the consequences.”
The FCA has intensified its scrutiny of financial promotions in recent years.
In 2024 alone, nearly 20,000 promotions were amended or withdrawn following regulatory intervention, almost double the figure from the previous year.
The regulator launched targeted action against finfluencers last year, which led to 20 individuals being interviewed under caution for misleading content.
The FCA continues to warn consumers about the risks of following unauthorised financial advice online.
It urges anyone considering investment opportunities to check the FCA register before engaging.
