The FCA is close to an agreement with Meta - owner of Facebook, Instagram and WhatsApp - to tackle the rapid growth in online and social media scammers.

The FCA has warned that many scammers are using bogus emails, letters and phone calls purporting to be from the FCA to target authorised firms and consumers.

The Financial Services Compensation Scheme has taken the unusual step of naming two firms suspected of trying to scam LCF mini-bond victims.

Financial Planning Wales, a Chartered Financial Planner firm, has become the latest firm to face a cloning scam as the FCA warned that scammers are using fake details of the company to try to con people.