FCA launches Firm Checker to fight financial crime

Around 800,000 people reported losing money to investments or pensions‑related scams in the 12 months to May 2024, according to Financial Conduct Authority (FCA) research.

To help fight this financial crime, the FCA has launched ‘Firm Checker', a tool to help consumers avoid scams. By using the tool and checking if a firm is authorised and has the correct permissions to provide services, people can significantly reduce their chances of falling victim to fraud.

Those who had experienced any Authorised Push Payment (APP) fraud or unauthorised consumer investments or pensions-related fraud, were most likely to have heard about it by seeing it promoted on social media – around 1 in 6 (17%) - or via a telephone call (17%).

Sixteen per cent were initially approached via text message, WhatsApp or another messaging service.

Scammers can make it difficult for consumers to know if they are dealing with the real firm. In addition to checking if a financial services firm is authorised by the FCA for the services being offered, people should also confirm that the contact details match those listed on the FCA Firm Checker.

Sheree Howard, executive director of authorisations at the FCA, said:

“Ruthless fraudsters are constantly evolving their tactics so they can steal money from innocent victims. Whether you're considering an investment, pension opportunity, loan or other financial service, use Firm Checker to confirm the firm is authorised and help fight financial crime.”

The research also found consumers are taking some precautions to protect against fraud but there is room for improvement. Around three in four (72%) adults said they always or usually reject or ignore unsolicited calls, emails or text messages about investment or pension opportunities.

Six in 10 (60%) consumers reported that they always or usually verify the authenticity of emails, messages or calls before providing personal or financial information.

Notes to editors

• FCA Firm Checker
• The latest FCA Financial Lives 2024 report was published in May 2025:
  • Key findings from the survey
  • Fraud and scams, and financial promotions – selected findings

• In the survey of 17,950 people, representative of all UK adults, 1.5% reported experiencing a pensions-related and/ or an investments-related (including cryptocurrency) fraud or scam in the 12 months to May 2024. Extended to the general population this works out at around 800,000 people.

• The investments or pensions‑related fraud or scams figures are not comparable to previous years due to changes in how the FCA asked about fraud in the 2024 survey.

• Firm Checker has been specially designed for, and tested with, consumers to make sure it is effective and easy to use. The Financial Services Register remains in place as the full regulatory record of the authorised financial services population.

• The FCA continues to explore where further clarity can be added and is making improvements where necessary to ensure the best possible user experience.
  
  
• Firm Checker is one of a number of ways people can seek to protect themselves from scams.
  
  

• Using an authorised firm can also bring other benefits as authorised firms must meet FCA standards and follow the FCA's rules. Consumers can also take a complaint to the Financial Ombudsman Service and are more likely to benefit from protection from the Financial Services Compensation Scheme. 

• The FCA enables a fair and thriving financial services market for the good of consumers and the economy. Find out more about the FCA.