Finance Editor, Kael Tripton Ltd - LBS MBA - Verified against FCA Handbook: 14 June 2026
Quick answer
The FCA warning list at fca.org.uk/consumers/warning-list-unauthorised-firms identifies known scams and unauthorised firms. But it is not exhaustive -- always verify on the FCA Register. Clone firm fraud copies legitimate firms' FRNs -- contact firms using Register contact details only, never numbers from cold callers.
What Is the FCA Warning List and How Do You Use It?
Direct answer
How do I check if a financial firm is a scam?
Check the FCA warning list at fca.org.uk/consumers/warning-list-unauthorised-firms. Then verify on the FCA Register at register.fca.org.uk using contact details from the Register directly. For clone fraud: call the genuine firm via Register numbers only. Report scams to fca.org.uk/consumers/report-scam-us and Action Fraud.
Check the FCA warning list first
Go to fca.org.uk/consumers/warning-list-unauthorised-firms. If the firm appears, stop all contact.
Verify on the FCA Register independently
Go to register.fca.org.uk. Use contact details from the Register directly -- not from the firm's materials.
Check for clone fraud indicators
Compare phone number, email and address on the Register against what the firm gave you.
Never transfer money without independent verification
Call the genuine firm using the Register's phone number.
Report all suspected scams
Report to the FCA and Action Fraud even if you did not lose money.
| Red flag | What it may indicate | Action |
|---|---|---|
| Not on FCA Register | Possibly unauthorised | Stop all contact. Report to FCA. |
| On warning list | Known scam | Stop all contact. Report to FCA and Action Fraud. |
| FRN matches but name differs | Possible clone fraud | Call genuine firm via Register number only |
| Unsolicited contact | High risk | Treat with extreme caution |
| Above-market returns promised | Scam indicator | Stop all contact |
Related KT guides
What the FCA Does When It Identifies an Unauthorised Firm
When the FCA identifies a firm operating without authorisation, it can: publish a consumer warning on the warning list and in the press, apply to court for an injunction to stop the firm operating, freeze the firm's assets to protect consumers, and refer individuals to the police or Crown Prosecution Service for criminal prosecution under Section 19 of FSMA 2000 (carrying on regulated activities without authorisation is a criminal offence carrying up to 2 years imprisonment). The FCA also operates a 24-hour consumer contact centre at 0800 111 6768 for reporting suspected unauthorised firms and receiving guidance on whether a firm is legitimate. Reporting promptly helps the FCA act faster and potentially recover more money for affected consumers.
Frequently Asked Questions
What is the FCA warning list?
The FCA warning list at fca.org.uk/consumers/warning-list-unauthorised-firms identifies firms operating without FCA authorisation or known to be scams. The list is not exhaustive -- absence does not mean a firm is legitimate. Always verify on the FCA Register at register.fca.org.uk regardless of warning list status.
What are the signs of an FCA scam?
Common signs: not on FCA Register or different name/address from Register entry (clone fraud), unsolicited contact, returns significantly above market, pressure to decide quickly, transfer money to personal bank account, cannot provide FCA FRN or FRN does not match Register.
What is clone firm fraud?
Clone fraud is where a scammer copies the name, FRN and details of a legitimate FCA-authorised firm. To detect: always contact the genuine firm using contact details from the FCA Register directly, not from the caller's materials. Check phone number and email match the Register entry exactly.
What should I do if contacted by an unauthorised firm?
Do not transfer money. Report to the FCA at fca.org.uk/consumers/report-scam-us and Action Fraud (actionfraud.police.uk, 0300 123 2040). If you have already transferred money, contact your bank immediately -- many banks can attempt to recall a bank transfer under the Contingent Reimbursement Model Code.
Is the FCA warning list comprehensive?
No. New scam operations appear constantly. Absence from the warning list does not mean a firm is legitimate. Always verify the FCA Register as the primary check.
Primary sources
Kael Tripton Ltd is registered with the Information Commissioner's Office under registration number ZC135439.
