Claims management company Samweb (UK) Limited has been stopped from carrying out regulated activities by the Financial Conduct Authority which has accused it of providing "misleading" information to consumers.

The FCA intervened on a record 4,151 financial promotions between July and September this year, the highest quarterly number since it started publishing the data.

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.

New FCA data has revealed that misleading financial promotions by authorised firms more than doubled from 207 in 2020 to 564 in 2021.