FCA: £197m lost to investment scams in 2018

Average loss £29,000 per person

Hannah Godfrey
clock • 1 min read

Investment scams led to £197m of reported losses last year, with victims losing an average £29,000 each, data from the national fraud reporting agency Action Fraud has revealed.

And, according to separate data from the FCA's call centre, the most commonly reported scam during 2018 involved shares and bonds, forex and cryptocurrencies, altogether accounting for 85% of all suspected investment scams reported last year. The Financial Conduct Authority (FCA) said the profile of investment scams is changing as more and more people are being targeted online, moving away from the traditional cold call. Fraudsters are now contacting people through emails, professional looking websites and social media channels, such as Facebook and Instagram. "These statistics show t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA warns on loan notes and mini-bond investment risks

FCA warns on loan notes and mini-bond investment risks

Urges consumers to be wary of high-risk investments

Jenna Brown
clock 20 August 2026 • 2 min read
SVS Securities CEO banned and fined

SVS Securities CEO banned and fined

Demetrios Hadjigeorgiou barred from working in senior management positions

Jenna Brown
clock 20 August 2026 • 2 min read
Suitability rules overhaul: Why firms should engage now, not later

Suitability rules overhaul: Why firms should engage now, not later

'The bigger shift is philosophical, not just structural'

Marjolaine Quirke
clock 19 August 2026 • 3 min read