US EditionConsumers warned after thousands targeted by scammers impersonating financial regulator
Nearly 5,000 reports reveal fraudsters impersonate the Financial Conduct Authority to steal money and data, targeting mainly people aged 56 and older, with 480 victims losing funds.
- The Financial Conduct Authority warned that fraudsters impersonated the regulator to target thousands of consumers in the first half of the year.
- This surge in scams occurred as fraudsters used tactics like false claims of recovered crypto funds and promised help to loan scam victims to steal money and information.
- The FCA revealed it received 4,465 reports of impersonation attempts, with nearly two-thirds of victims aged 56 or older, highlighting a vulnerability among older adults.
- Steve Smart, FCA joint executive director, said, "Fraudsters are ruthless" and emphasized the FCA never asks for money transfers or sensitive banking information like PINs or passwords.
- The FCA urged consumers to avoid handing over funds or personal data, warning the true volume of victims is likely higher and that awareness of scam tactics is key to prevention.
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Total News Sources25
Leaning Left3Leaning Right1Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 30%
C 60%
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