FCA issues warning after investment scams cost savers £78m during 2020

'Clone' investments firms on the rise

James Baxter-Derrington
clock • 2 min read

More than £78m was stolen from investors over the course of 2020 as clone investment firm scams took advantage of pandemic-induced financial worries, according to new data from Action Fraud.

To continue reading this article...

Join Investment Week today

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

FCA prepares groundwork for tokenised gold assets – reports

FCA prepares groundwork for tokenised gold assets – reports

Increasing market digitisation

Michael Nelson
clock 10 August 2026 • 1 min read
Friday Briefing: What are the rules?

Friday Briefing: What are the rules?

Friday Briefing

Patrick Brusnahan
clock 10 August 2026 • 3 min read
LSE eyes easier access and lower costs to join AIM with fresh rules

LSE eyes easier access and lower costs to join AIM with fresh rules

Follows consultation

clock 05 August 2026 • 1 min read
Trustpilot