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How to check a firm is authorised and avoid clone scams

This article shows you how to check whether a financial firm is authorised by the Financial Conduct Authority (FCA) and how to use the FCA Warning List and ScamSmart tools to spot scams and clone firms. It also explains why 'authorised' does not mean risk-free.

3 key takeaways

In the UK, most firms that offer regulated financial products or services must be authorised or registered by the FCA.

The FCA's Financial Services Register is the official public record of firms and individuals that are, or have been, authorised or registered, including what they are allowed to do and their contact details.

Clone firms copy details of real FCA-authorised firms but use their own phone numbers, email addresses or websites to contact you.

The basics

In the UK, most firms that offer regulated financial products or services must be authorised or registered by the FCA.

If you are checking a firm, go to the FCA's official site and use the

to search by name or firm reference number.

Check that the firm's name, firm reference number and contact details on the

match exactly the details you have been given.

The

shows firms and individuals the FCA is concerned are operating without permission or may be running scams. A firm not appearing on the list is not the same as the firm being safe.

copy details of real FCA-authorised firms but use their own phone numbers, email addresses or websites to contact you. Use the contact details on the

rather than the details in an advert, email or message.

If you deal with a firm that is not authorised for the service it is giving you, you are unlikely to be covered by the

if things go wrong.

Authorisation can be important for access to protections and complaints routes. But it does not remove

or guarantee you will not lose money.

If anything looks wrong, do not send money. Use the FCA's tools, and consider contacting the FCA or Action Fraud.

Illustrative example

A familiar name does not prove a firm is genuine

Imagine you receive a cold call about an investment opportunity from someone claiming to represent a well-known firm. The name sounds real and the message includes a firm reference number, but the phone number and website do not match the FCA Register. That mismatch is a major warning sign. A clone firm may be borrowing the real firm's details while sending you to different contact channels.

Common misconceptions

Myth

If a firm gives me an FCA firm reference number, it must be genuine.

Reality

A clone firm can copy a genuine firm's details. You still need to check the contact details, website and permissions against the FCA's own record.

Myth

If a firm is not on the Warning List, it is safe.

Reality

The Warning List can help you spot concerns, but not appearing on it is not the same as being genuine or suitable.

Myth

Authorised means my investment cannot lose money.

Reality

Authorisation can matter for standards and access to protections, but it does not remove investment risk or guarantee returns.

Test your understanding

Are these statements true or false? Tap to reveal the answer.

“If a firm gives me an FCA firm reference number, it must be genuine.”

“If a firm is not on the Warning List, it is safe.”

“Authorised means my investment cannot lose money.”

Sources

FCA – How to check a firm or individual is authorised FCA Register FCA – Clone firms and individuals FCA – Warning List of unauthorised firms FCA – Protect yourself from scams

How to check a firm is authorised and avoid clone scams

3 key takeaways

In the UK, most firms that offer regulated financial products or services must be authorised or registered by the FCA.

Clone firms copy details of real FCA-authorised firms but use their own phone numbers, email addresses or websites to contact you.

The basics

In the UK, most firms that offer regulated financial products or services must be authorised or registered by the FCA.

If you are checking a firm, go to the FCA's official site and use the

to search by name or firm reference number.

Check that the firm's name, firm reference number and contact details on the

match exactly the details you have been given.

The

shows firms and individuals the FCA is concerned are operating without permission or may be running scams. A firm not appearing on the list is not the same as the firm being safe.

copy details of real FCA-authorised firms but use their own phone numbers, email addresses or websites to contact you. Use the contact details on the

rather than the details in an advert, email or message.

If you deal with a firm that is not authorised for the service it is giving you, you are unlikely to be covered by the

if things go wrong.

Authorisation can be important for access to protections and complaints routes. But it does not remove

or guarantee you will not lose money.

If anything looks wrong, do not send money. Use the FCA's tools, and consider contacting the FCA or Action Fraud.

Illustrative example

A familiar name does not prove a firm is genuine

Common misconceptions

Myth

If a firm gives me an FCA firm reference number, it must be genuine.

Reality

A clone firm can copy a genuine firm's details. You still need to check the contact details, website and permissions against the FCA's own record.

Myth

If a firm is not on the Warning List, it is safe.

Reality

The Warning List can help you spot concerns, but not appearing on it is not the same as being genuine or suitable.

Myth

Authorised means my investment cannot lose money.

Reality

Authorisation can matter for standards and access to protections, but it does not remove investment risk or guarantee returns.

Test your understanding

Are these statements true or false? Tap to reveal the answer.

“If a firm gives me an FCA firm reference number, it must be genuine.”

“If a firm is not on the Warning List, it is safe.”

“Authorised means my investment cannot lose money.”

Sources

FCA – How to check a firm or individual is authorised FCA Register FCA – Clone firms and individuals FCA – Warning List of unauthorised firms FCA – Protect yourself from scams