😱United Kingdom🇬🇧: Regulator blocks 1,600 websites as part of financial crime crackdown…

😱United Kingdom🇬🇧: Regulator blocks 1,600 websites as part of financial crime crackdown…

The Financial Conduct Authority (FCA) took this action after discovering that the websites were promoting financial services without proper authorization.

➡️ Context: Fraud remains the most common crime in the UK. In 2024, there were approximately 4.1 million reported cases, representing 43% of all crimes in the country. This figure marks a 33% increase compared to 2023, according to the Crime Survey for England and Wales.

➡️ In response, the FCA revoked 1,500 financial licences issued to legal entities in 2024 — a 20% rise from the previous year.

➡️ Additionally, around 50 apps were removed from Google Play and the App Store for failing to meet regulatory standards.

➡️The FCA has also ramped up the use of criminal prosecutions to clamp down on unauthorised financial promotions, with a particular focus on campaigns run by finfluencers.

#news #Europe #fraud

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