A fraudster who took over £1m from 60 victims in a Ponzi-style investment scam has been jailed for five and a half years.

The Financial Services Compensation Scheme has so far paid out almost £50m in compensation to victims of the Ethical Forestry Limited investment fraud.

Investment manager Vanguard is the latest firm to be hit by a clone attack by fraudsters, according to a warning from the FCA.

The FCA has issued a warning about a fraudulent website impersonating the regulator which it said may expose users to malware or other security risks.

The Crown Prosecution Service has authorised criminal charges against two people, including a former police superintendent, in connection with a £720,000 investment scam.

A company director has been jailed for eight years and one month for being responsible for and playing a key role in a Ponzi-style £9m investment fraud.

The FCA has warned that crooks have been issuing fake letters which purport to have been sent by Sarah Pritchard, the regulator’s deputy chief executive.

Financial services firms are missing opportunities to prevent romance scams, according to the FCA.

Five money launderers have been jailed for exploiting victims via a large scale romance fraud scam, cheating 40 victims out of £2.37m.

Taunton-based Nicholas Harper, 26, has been convicted of breaching the Data Protection Act but acquitted of fraud and unauthorised business offences connected to an investment fraud following a prosecution brought by the FCA.

Two individuals have been sentenced to a combined 12 years in jail for their roles in a £1.5m crypto fraud.

John Dobbs has been charged with three counts of conspiracy to commit fraud by false representation over an unauthorised investment scheme which defrauded investors out of £3.9m.

The FCA has won a Confiscation Order of £5,963,376 against convicted investment scammer Guy Flintham.

Clone scammers have targeted Marks & Spencer’s financial services arm by setting up a fake website to try to con savers.

The number of investment scams fell 29% to 3,647 cases in the first half of 2024 (H2 2023: 5,114 cases), according to new data from professional body UK Finance.

Wealth Solutions (UK) Limited (FRN:478217) has been hit by a clone attack by fraudsters.

The FCA has issued warnings over five unauthorised crypto asset, forex and CFD firms operating in the UK without any permissions from the regulator.

The Serious Fraud Office has secured an increased confiscation order against former stockbroker and convicted Ponzi scheme fraudster Nicholas Levene.