Three arrested in the UK in FCA led crackdown on illegal finfluencers
Three people in the UK have been arrested as the Financial Conduct Authority led an an international crackdown on illegal finfluencers in a week of action that kicked off on Monday.
Along with the arrests, made with the support of the City of London Police, the watchdog has also authorised criminal proceedings against three individuals.
The regulator listed that it has invited four finluencers for interview and sent seven cease and desist letters.
It is easy for scammers and opportunists to exploit unassuming investors who can face devastating financial losses
According to the FCA, 50 warning alerts have been issued which it calculated will result in over 650 take down
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