FCA joins forces with international regulators on illegal finfluencer crackdown

Nine regulators, from Australia, Canada, Hong Kong, Italy, United Arab Emirates and United Kingdom took part in the week of action, which began on 2 June. In the UK, the FCA has made three arrests with the support of the City of London Police (the National Lead Force for fraud), authorised criminal proceedings against three people, invited four finfluencers for interview, sent seven cease and desist letters and has issued 50 warning alerts. The watchdog said the warning alerts will result in more than 650 take down requests on social media platforms and more than 50 websites operated ...