FCA Warning List — how to check (UK 2026)
Step-by-step guide to using the FCA's published list of unauthorised firms. Where to find it, how to search it correctly, what it means if your firm IS on it, what to do if it ISN'T listed but you're suspicious. The Warning List is the black-list companion to the FCA Firm Checker (white-list) — always check both.
Last reviewed: 15 May 2026 · ScamSupport research
What is the FCA Warning List?
The Financial Conduct Authority's published list of firms it has identified as operating without UK authorisation but targeting UK consumers. Maintained by FCA's Unauthorised Business Division. Updated daily.
A firm on the Warning List has been identified by FCA as not authorised to provide regulated financial services in the UK. Using such a firm means:
- No FSCS protection (compensation if firm fails)
- No Financial Ombudsman Service recourse
- Limited consumer-protection options
- High likelihood the firm is also fraudulent (the FCA primarily lists firms that have been reported by victims)
Step-by-step — how to search
- Type the URL directly —
fca.org.uk/consumers/warning-list-unauthorised-firms. Don't click any link from the broker / advisor you're checking. Don't use a Google search result. Some scams set up fake "FCA Warning List" pages designed to confirm their own legitimacy. - Search the firm name in the search box. Use the exact name as it appears on the broker's materials.
- Search any aliases or trading names mentioned in their materials. Some Warning List entries are listed under specific trading names.
- Search the website domain — some entries are listed by URL rather than name. Try "examplebroker.com" if "Example Broker Ltd" doesn't return a result.
- Search the registered office address if no name match yet — some criminal operations rotate firm names but reuse addresses.
- Check related-firm or clone-firm references. The FCA Warning List entry may mention "this firm has been impersonating [authorised firm]" — gives you context.
What the results mean
Match found on Warning List
The firm is identified by FCA as unauthorised. Walk away. Don't deposit more money. If you've already deposited, follow the recovery routes below.
No match on Warning List, but firm not in Firm Checker either
The riskiest position. Absence from both means the firm isn't FCA-authorised AND the FCA hasn't yet investigated. Typically a new operation. Further checks:
- Companies House — search at find-and-update.company-information.service.gov.uk. If registered <12 months ago, higher risk.
- Cross-jurisdiction warning lists:
- DFPI Crypto Scam Tracker (California) — strong for crypto scams
- OCCRP investigations — international organised crime / large fake-platform networks
- ASIC Investor Alert List (Australia)
- CSA Disciplined Persons List (Canada)
- SEC PAUSE List (US)
New scams often appear on these international lists before FCA Warning List. Cross-checking gives early warning.
Match found in Firm Checker (FCA-authorised)
The firm IS authorised. But this doesn't end the verification — check whether the broker's contact details (phone, email, website, registered office) match the FCA register entry. Clone-firm scams pass the FRN check but fail at contact details. See our clone firm scam page.
Limitations of the Warning List
- It's reactive, not proactive. Firms are added after FCA identifies them — often after victim reports. New scam operations may run for weeks before appearing.
- It's UK-focused. Scams operating exclusively outside UK consumer audience won't appear.
- It doesn't cover authorised firms behaving badly. Mis-selling, mismanagement, etc. by FCA-authorised firms isn't on the Warning List — those are handled via FOS / FCA enforcement.
- It doesn't list every type of scam. Romance scams, pig-butchering, money-mule scams aren't typically on the Warning List unless they involve named regulated-product impersonation.
- Absence is not authorisation. Many scams operate via firms that simply haven't been reported yet.
If your firm IS on the Warning List — recovery routes
- Stop depositing. Don't pay "release fees".
- Bank fraud line immediately.
- Section 75 / chargeback for card payments.
- PSR Mandatory Reimbursement Scheme for UK bank transfers.
- Report to FCA at fca.org.uk/contact — your report strengthens the case + may help other victims.
- Report Fraud report at reportfraud.police.uk.
- Specialist solicitor for cases above £20,000.
- Start PSR claim.
- Watch for follow-up recovery scams — Warning List victims are heavily re-targeted.
The complete verification routine
Combine the Warning List check with our broader 10-step fake-broker detection routine. The Warning List is step 3 of that routine — necessary but not sufficient on its own.
Our FCA Investment Platform Warning List integrates this into a one-search interface.
Frequently asked questions
What is the FCA Warning List?
The Financial Conduct Authority's published list of firms it has identified as operating without UK authorisation but targeting UK consumers. Maintained at fca.org.uk/consumers/warning-list-unauthorised-firms. Updated daily — the FCA adds firms following victim reports + investigations. A firm on the Warning List has not been authorised to provide regulated financial services in the UK; using such a firm means you have no FSCS protection, no FOS recourse, and limited consumer-protection options.
How do I search it?
Type fca.org.uk/consumers/warning-list-unauthorised-firms directly into your browser. There's a search box at the top of the page. Enter: (1) the firm name as given to you by the broker / advisor; (2) any aliases or trading names mentioned in their materials; (3) the website domain (some entries are listed by URL rather than name); (4) the registered office address if no name match. If any of these returns a match, the firm is identified by FCA as unauthorised. If no match, the firm isn't (yet) on the Warning List — but absence is not the same as authorisation. Cross-check separately at register.fca.org.uk for the authorisation status.
What's the difference between Warning List and Firm Checker?
Two separate FCA tools. Warning List (fca.org.uk/consumers/warning-list-unauthorised-firms) shows firms FCA has identified as NOT authorised but operating in UK. Firm Checker / Financial Services Register (register.fca.org.uk) shows firms that ARE authorised. Always check both: search the Warning List first (presence = walk away); if no Warning List hit, search the Firm Checker (presence = authorised, absence = unauthorised). The Warning List is a black-list; the Register is a white-list. Many scam victims check only one and miss the relevant signal.
What if a firm is on neither list?
That's the riskiest position. Absence from both lists means: the firm isn't FCA-authorised (not in Register) AND the FCA hasn't yet investigated and added it to the Warning List. This typically means a new scam operation that's set up recently. Two further checks: (1) Companies House — search at find-and-update.company-information.service.gov.uk; if firm registered less than 12 months ago, treat as higher risk. (2) Cross-jurisdiction warning lists — DFPI Crypto Scam Tracker (California), OCCRP investigations, ASIC Investor Alert List (Australia), CSA Disciplined Persons List (Canada). New scams often appear on these before FCA Warning List.
My firm is on the Warning List — what now?
Don't deposit any more money. Stop responding to communications from the firm. Don't pay any 'release fee' or 'verification deposit' they may demand to free your existing money — these escalate. (1) Bank fraud line immediately if you've sent money. (2) Section 75 / chargeback for card payments. (3) PSR claim for UK bank transfers. (4) Report to FCA at fca.org.uk/contact — your report strengthens the case against the firm. (5) Report Fraud report at reportfraud.police.uk. (6) Specialist solicitor (TLW, CEL, Hugh James) for cases above £20,000. (7) Watch for follow-up recovery scams — Warning List firms' victims are heavily re-targeted.
How many firms are on the Warning List?
The FCA does not publish a definitive total count and the figure has grown rapidly as crypto + clone-firm scams have proliferated. Third-party reporting suggests the cumulative list is on the order of 12,000+ entries, though the FCA itself reports flow stats rather than aggregate (e.g., 'we issued 2,329 warnings about unauthorised or potentially scam firms in 2025'). For practical purposes the count doesn't matter — what matters is whether YOUR specific firm appears. Always do a fresh search for the specific name/domain you're being pitched.