Zero convictions in finfluencer space ‘absolute scandal’ says MP

The Treasury Committee questioned the Financial Conduct Authority (FCA) about the finfluencer craze gaining traction in the first hearing to focus on the topic

The MPs probed the regulator about how it plans to combat the scourge when it is struggling to convict fraudsters.

The internet is rife with influencers showcasing completely fictitious lives, driving supercars in Dubai, and working from anywhere in the world after becoming ‘financially free’ through their get rich quick style schemes.

The Treasury Committee wanted to assess how the FCA is dealing with the increase which predicts up to 25,000 people per year could be committing financial crime by offering illegal services online that are not regulated by the FCA at a hearing on 1 May 2025.

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