The Financial Conduct Authority has launched an online tool to help people avoid scams called 'Firm Checker.'
The tool, available here, enables a prospective customer to quickly confirm whether the entity they are considering engaging with is authorised and has the correct permissions to provide services. The FCA said it people that use Firm Checker will significantly reduce their chances of falling victim to fraud. Around 800,000 people reported losing money to investment or pension scams in the 12 months to May 2024, according to the regulator. Those who had experienced Authorised Push Payment (APP) fraud or unauthorised consumer investments or pensions-related fraud, were most likely to...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
