UK arrests ‘influencers’ who offer dodgy financial advice
The Financial Conduct Authority (FCA) has announced that three social media influencers have been arrested for illegal financial promotion in the United Kingdom.
These arrests come as part of an international crackdown on illegal ‘finfluencers’, social media influencers who use their platform to promote financial products and share trading tips.
While some finfluencers act legally, others illegally promote products or services without authorisation through their online posts and falsely promote success by pretending to lead lavish lifestyles.
Nine regulators, from Australia, Canada, Hong Kong, Italy, United Arab Emirates and United Kingdom took part in the week of action against illegal finfluencers, which began on 2 June 2025.
In addition to the three arrests made in the UK, the FCA has sente seven cease and desist letters, invited four finfluencers for interviews, and issued 50 warning alerts.
These warning alerts will result in 650 takedown requests for social media posts and more than 50 for websites operated by unauthorised finfluencers, the FCA said.
“Our message to finfluencers is loud and clear,” said FCA joint executive director of enforcement and market oversight Steve Smart.
“They must act responsibly and only promote financial products where they are authorised to do so – or face the consequences.”
The FCA publishes a warning list of unauthorised firms and individuals who are not allowed to operate in the UK. It recommends that users check the details of finfluencers or firms against this list if they are suspicious of their legitimacy.
