The Financial Conduct Authority (FCA) is asking consumers to be extra vigilant of fraudsters impersonating the regulator, after it revealed it had received almost 5,000 fake FCA scam reports in the first half of 2025. One common scam method is fraudsters claiming that the FCA has recovered funds from a crypto wallet that was opened illegally in the individual’s name. Another is to target loan scam victims and claim the FCA can help them recover the money they have lost. The figures represent the total number of reports to the FCA where people realise they’ve been targeted and are willing to make a report. “While people of all ages can fall victim to scammers, those who are able to access their retirement pot – potentially the biggest asset they own – will inevitably be a prime target,” Young said.