The FCA has issued 19 warnings on unauthorised and clone firms in the past 7 days, a rate of nearly 3 per day.

Many of the firms were bogus firms, firms unauthorised to do regulated business in the UK or clones of legitimate UK regulated firms.

If the rate of warnings continues at the current speed the FCA will be issuing 1,000 warnings this year, a figure underlining the scale of the problem.

The FCA has so far issued warnings on over 9,500 firms, many of them based overseas but targeting UK investors via the internet and social media.

Some of the firms are involved, or claim to be involved, in investments. There are also significant numbers involved in cryptocurrency and foreign exchange.

Below is a list of some of the firms named this month by the FCA as firms to be avoided or treated with extreme caution by UK investors.

Consumers are advised to check firms on the FCA Register.

FCA Warnings on Firms - New or Updated / 6-8 April 2022

Source: FCA