FCA warns of two Instagram-based brokers

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The Financial Conduct Authority (FCA) has warned of two unauthorised insurance brokers operating via Instagram – Cheap Insurance Broker and B1 Insurance.

The regulator flagged that both firms were targeting people in the UK and carrying on regulated activities which require authorisation.

According to the FCA, B1 Insurance is operating via a mobile phone number and an Instagram page, which at the time of writing is still active.

The page has 4,478 followers and has been active since June 2018

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