Twenty ‘finfluencers’ questioned under caution by the UK regulator

Twenty social media influencers in the UK were interviewed by the Financial Conduct Authority under criminal powers for promoting unlawful financial activities. The FCA also issued alerts against 38 social media accounts for potential illegal promotions. The crackdown comes as the regulator warns of increasing scams targeting young people influenced by ‘finfluencers’ and the risks associated with following financial advice on social media.

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