Social media has become an increasingly popular place for people to learn about investing, personal finance and ways to grow their money. But alongside legitimate financial education, the Financial Conduct Authority (FCA) is continuing to take action against people who use social media to promote financial products and services illegally.
In April 2026, the FCA led an international week of action targeting illegal financial promotions by so-called “finfluencers”, social media personalities who promote financial products, investments or financial ideas to their followers. Seventeen regulators around the world took part in the initiative.
The FCA’s latest action highlights an important message for anyone considering an investment promoted online: don’t let a social-media personality’s image of wealth replace proper checks and research.
What is a finfluencer?
A finfluencer is a social-media personality who uses platforms such as Instagram, YouTube, TikTok or other online channels to share financial content, investment ideas or promote financial products and services.
Being a finfluencer is not, by itself, illegal. The FCA makes clear that many financial content creators operate legitimately.
The concern is with individuals who promote financial products or services without the necessary authorisation or approval, or who communicate financial promotions that do not comply with the rules.
This is particularly important because millions of people increasingly turn to social media for financial information and investment ideas.
FCA takes action against illegal financial promotions
The FCA’s April 2026 crackdown demonstrates the scale of the issue.
During its latest international week of action, the FCA made 120 account takedown requests to social-media platforms. Within those accounts, it identified 1,267 illegal financial adverts, which reached at least 2,338,372 UK accounts.
The FCA also issued 34 warning alerts against unauthorised firms or individuals and updated 14 others. It also secured a guilty plea from Geordie Shore’s Aaron Chalmers over illegal social-media promotions, while criminal proceedings began against two other individuals for similar offences.
The FCA has also previously taken enforcement action directly against social-media influencers.
In February 2026, Southwark Crown Court sentenced and fined seven influencers after they pleaded guilty to issuing unauthorised financial promotions relating to an unauthorised foreign-exchange trading scheme. Their combined Instagram following was approximately 4.5 million.
These cases demonstrate that promoting financial opportunities to a large online audience can carry serious consequences when the required regulatory rules are not followed.
Don’t mistake a lavish lifestyle for investment success
One of the biggest dangers of financial content on social media is the power of appearances.
A person showing luxury cars, expensive watches, designer clothes, exotic holidays or screenshots of apparent trading profits can create the impression that they have discovered a reliable way to make money.
But a lifestyle is not evidence that an investment opportunity is legitimate.
The FCA has specifically highlighted concerns about illegal finfluencers using the pretence of a lavish lifestyle, sometimes falsely, to promote the appearance of financial success.
Before investing, consumers should look beyond the images and promises.
Ask yourself 7 mandatory questions below:
- Who is actually providing the investment service?
- Is the firm authorised by the FCA?
- Does its FCA permission cover the service being offered?
- Is the firm or individual on the FCA Warning List?
- Are you being pressured to invest quickly?
- Are the promised returns realistic?
- Are you being asked to transfer money to an individual or an unfamiliar company?
A large following, impressive lifestyle or confident presentation should never be treated as proof that an investment is safe.
Check the FCA Firm Checker before investing
One of the simplest steps consumers can take is to check the firm or individual before handing over any money.
The FCA provides its FCA Firm Checker, which allows consumers to check whether a firm is authorised and whether it has permission to provide the particular services being offered.
Don’t simply accept a screenshot of an FCA registration, an FCA logo on a website or a claim in an influencer’s social-media bio.
Search for the firm independently through the FCA’s official checker and make sure the details match.
Most importantly, authorisation does not mean the FCA is recommending or guaranteeing a particular investment. It is still important to understand the risks and consider whether an investment is appropriate for your circumstances.
Check the FCA Warning List
Consumers should also check the FCA’s Warning List before dealing with an unfamiliar firm or individual.
The list contains firms and individuals the FCA believes are operating without the required authorisation or carrying out activities that may put consumers at risk.
However, there is an important point to remember: not appearing on the Warning List does not automatically mean a firm is legitimate.
The FCA explains that its Warning List cannot contain every unauthorised firm or scam. New scams can emerge quickly, and firms can change their names or business details.
Why FCA authorisation matters
The FCA regulates financial firms and aims to protect consumers and maintain the integrity of the UK’s financial markets.
The FCA warns that dealing with an unauthorised firm or individual can increase your risk of falling victim to a scam. You may also lose access to important consumer protections, including the Financial Ombudsman Service and the Financial Services Compensation Scheme.
This is one reason checking who you are dealing with is so important.
If someone contacts you through social media with an investment opportunity, don’t allow the conversation to move straight from an Instagram post, YouTube video or TikTok clip to transferring money.
Take a step back. Research the firm. Check its regulatory status. Understand the investment and its risks.
Social media can educate – but don’t let it decide for you
Social media can be a useful starting point for learning about personal finance and investing. There are many responsible creators producing educational content.
However, there is a significant difference between learning about investing and receiving personalised financial advice.
Your financial circumstances are unique. Your income, savings, existing investments, pension arrangements, financial objectives, time horizon and tolerance for investment risk may all affect what is appropriate for you.
A social-media video cannot necessarily take all of those factors into account.
A simple mandatory checklist before investing in the UK
Before acting on an investment opportunity you discover through social media, consider taking these steps:
- Use the FCA Firm Checker to see whether the firm is authorised and whether its permissions cover the service it offers.
- Check the FCA Warning List for the firm or individual.
- Verify contact details independently rather than relying solely on details supplied by the promoter.
- Don’t invest because of appearances. Luxury cars, holidays, watches and screenshots of profits are not proof of legitimate investment success.
- Be cautious of pressure. Be particularly careful if you are told that an opportunity is limited, urgent or available only for a short time.
- Understand the risks. Higher potential returns generally come with higher levels of risk.
- Consider professional financial advice if you need help making decisions based on your own financial circumstances.
The FCA’s crackdown is a reminder to stay vigilant
The FCA’s recent enforcement activity sends a clear message: social media financial promotions are subject to rules, and those who break them can face regulatory or criminal consequences.
For consumers, the message is equally important.
Don’t invest because someone online looks successful. Don’t assume a large following means financial expertise. And don’t rely on a social-media post as proof that an investment opportunity is legitimate.
Take the time to carry out independent checks using the FCA’s official resources.
The FCA Firm Checker and FCA Warning List are useful starting points, particularly when you are approached by an unfamiliar firm or individual online.
And if you’re considering an investment but aren’t sure what is appropriate for your circumstances, speaking with a qualified financial adviser can help you make a more informed decision.
At Invest N More, we strongly believe financial decisions should be based on your individual circumstances rather than social-media hype. Our platform helps people connect with FCA-certified financial advisors who can provide professional guidance tailored to their financial goals and needs.
