FCA Launches Scambot Intelligence Unit to Combat Financial Fraud

# FCA Launches Scambot Intelligence Unit

The FCA has significantly expanded its use of artificial intelligence to detect fraudulent financial promotions and unauthorised firms operating online.

## The Scambot System

The FCA's automated monitoring system scans the internet 24/7 for:
- Unauthorised financial promotions
- Clone firm websites
- Fraudulent investment opportunities
- Social media scam advertisements

## Impact in 2024

Since expanding the system, the FCA has:
- Identified and removed over 25,000 fraudulent web pages
- Added 1,500+ firms to its warning list
- Reduced the average time to flag a scam from days to hours
- Collaborated with social media platforms to remove scam ads

## What This Means for Consumers

While the Scambot system is making the internet safer, scammers are adapting quickly. New clone sites appear within hours of old ones being removed, and fraudsters increasingly use encrypted messaging apps and private social media groups.

## Stay Protected

1. Always check the FCA Register before investing
2. Use the FCA's ScamSmart tool to check investment opportunities
3. Be wary of unsolicited investment approaches
4. Report suspicious firms to the FCA

## Need Help?

If you've been targeted by a scam operation, Patterdale Recovery can help assess your case and begin the recovery process.