TL;DR: On April 24, 2026, the FCA said 17 regulators took part in a week of action from April 20 against illegal finfluencers. The FCA identified 1,267 illegal financial adverts on Meta platforms that reached at least 2,338,372 UK accounts, and 66% came from firms or individuals already on its Warning List.

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What happened

The FCA reports it secured a guilty plea from a reality TV star for illegal social media promotions, with criminal proceedings started against two more individuals. It sent four targeted warning letters, issued 34 warning alerts and updated 14 more, and made 120 account takedown requests to social media platforms.

The FCA says it issued 2,329 warnings about unauthorised or potentially scam firms and individuals in 2025. This followed an earlier week of action with 8 other regulators in June 2025.

Why it works

A polished post from a familiar face feels like a recommendation, not an advert. Dealing with an unauthorised firm raises the risk of a scam and can mean losing protections such as the Financial Ombudsman Service and the Financial Services Compensation Scheme.

The FCA wants social media platforms to take a more proactive role in removing illegal financial promotions.

Background: our explainers on deepfake scams and investment and trading app scam recovery. See also Seven Arrested in Nigeria Over Alleged Crypto Scam Centre and Romance Fraudster Jailed 7 Years After £180,000 Inheritance Lie. For wider numbers, see our data page on average loss per victim by scam type.

What the FCA advises

If you have already sent money

Contact your bank immediately, using the number on your card or by dialling 159, and ask about stopping the payment and reimbursement, then report it to Report Fraud on 0300 123 2040. Our guides on UK fraud reporting and APP reimbursement rules, UK bank impersonation scams and how to reverse a wire transfer scam explain what to expect, and what to do after a scam, wherever you live covers the first 24 hours. Scammers often start with details taken from past leaks, so run our free digital footprint check to see what of yours is already exposed.

Frequently Asked Questions

How many illegal adverts did the FCA find?

1,267 illegal financial adverts on Meta platforms, reaching at least 2,338,372 UK accounts, according to the FCA release of April 24, 2026.

How many regulators took part?

17 regulators took part in the week of action starting April 20, 2026.

How do I check if a firm is authorised?

Use the FCA Firm Checker, which also lists unauthorised firms and individuals on the Warning List.

What do I lose if I deal with an unauthorised firm?

Protections such as the Financial Ombudsman Service and the Financial Services Compensation Scheme may be unavailable.

Sources

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