Overview

• The FCA says it received 4,465 reports of criminals posing as the watchdog in the first six months of 2025, with about 480 people transferring money to scammers.
• Nearly two-thirds of reports came from people aged 56 and over, highlighting a focus on older victims and those previously defrauded.
• A leading ploy involves claims that the FCA has recovered funds from a cryptocurrency wallet opened in a victim’s name, followed by demands for payment or banking details.
• Other tactics include contacting prior loan-scam victims with bogus recovery offers and sending emails citing fake County Court Judgments that instruct payments to the FCA.
• The FCA highlights long-con “pig butchering” schemes and urges the public to verify contact via its helpline and report attempts to Action Fraud or Police Scotland.