Corrections to this article
- 19 August 2026: An earlier version of this story said the Financial Services Compensation Scheme deposit limit was £75,000 per person per institution. The limit is £85,000 per person per institution. The figure has been corrected.
With Bank Rate held again, the adverts promising savers a way to beat the market have multiplied. The pattern in this cycle is not a crude promise of riches: it is a modest-sounding premium of two or three points over the best genuine easy-access rate, presented inside a page that looks like a comparison table.
What the adverts look like
- Layouts copied from established comparison sites, complete with fake filters and star ratings.
- A single "featured" provider quoting a fixed rate, described as capital protected.
- A form that asks only for a phone number, because the call does the selling.
- Sponsored search placements bought against the names of real banks and building societies.
Where the confusion is manufactured
The word "bond" is doing the work. A savings account with an authorised deposit-taker sits inside the deposit compensation scheme. A corporate or mini-bond, however it is advertised, does not — the money is lent to a company, and if that company fails, the loss is yours. Adverts blur the two deliberately, borrowing the vocabulary of savings for something that is not a deposit.
Checks before you move any money
- Search the provider on the FCA register and read the permitted activities.
- Search the name, the website and the phone number on the FCA Warning List.
- Look up the company at Companies House: incorporation date and filing history.
- Ring the number on the register and ask whether the offer exists.
If you have already paid, contact your bank now, report to Action Fraud, and use the Financial Ombudsman Service if the bank's decision is wrong. The FCA consumer helpline is 0800 111 6768. All free. Nothing here is advice on where to put your money.
Named in this report
Each file gathers every warning, published contact detail and update we hold on that name.
Firm warnings published each month
98 in this window · down 17 on the month before
- 2Apr
- 1May
- 2Jun
- 4Jul
- 53Aug
- 36Sept
Counted from the warning notices in our own archive. One notice can name several trading styles.
The wider record
Counts from our own archive, for context around this report. Not an estimate of fraud across the UK.
Clone firms as a share of our Warning List archive
Clone firms copy the name or details of a genuine authorised business.
- Clone of an authorised firm17(16%)
- Not recorded as a clone89(84%)
Contact details recorded against warned firms
One firm can appear in more than one row.
Website recorded76(35%)
Website recorded: 76 entriesPhone recorded39(18%)
Phone recorded: 39 entriesEmail recorded85(39%)
Email recorded: 85 entriesNo contact details held16(7%)
No contact details held: 16 entries
Open the data page to see how each figure is counted.
How this report was made
- Updated
- 3 times
- Primary sources
- 6 sources
- Following this subject
- 0 readers
- Reader comments
- 0 comments
Checked against the published record
Bank of England
Bank Rate and Monetary Policy Committee decisionsThe rate decision referenced in this report.
FCA
Financial Conduct Authority Warning ListPrimary record of firms the FCA says may be operating without authorisation.
FCA
FCA Financial Services RegisterAuthoritative check on whether a firm is authorised and for what.
PSR
Payment Systems Regulator — APP fraud reimbursementThe reimbursement requirement for authorised push payment fraud.
FOS
Financial Ombudsman ServiceFree, independent adjudication and published decision data.
Action Fraud
Action Fraud reporting serviceThe UK national reporting centre for fraud and cybercrime.
Sourcing. Every claim is tied to a published record — a regulator's notice, a court or ombudsman decision, or a document we hold. We quote a headline and a short summary and link the original.
Right of reply. Firms and people we criticise are put on notice before publication and their response is carried in the piece.
Independence. No affiliate links, no sponsored placements and no referrals to solicitors or claims firms. The only routes we point to are free. Read the full method · first published 18/08/2026
Trust and sourcing
- Bylined
- Editor approved
- Not flagged for review
Legal review
Not required
No individual or firm is criticised, so no right of reply was required.
Source URLs behind this report
- Bank of England
https://www.bankofengland.co.uk/monetary-policy
The rate decision referenced in this report.
- FCA
https://www.fca.org.uk/consumers/warning-list-unauthorised-firms
Primary record of firms the FCA says may be operating without authorisation.
- FCA
https://register.fca.org.uk/
Authoritative check on whether a firm is authorised and for what.
- PSR
https://www.psr.org.uk/
The reimbursement requirement for authorised push payment fraud.
- FOS
https://www.financial-ombudsman.org.uk/
Free, independent adjudication and published decision data.
- Action Fraud
https://www.actionfraud.police.uk/
The UK national reporting centre for fraud and cybercrime.
What changed in each update
First published 18 August 2026 at 08:30 · last updated 21 August 2026 at 10:30
Added the current free reporting routes and clarified what the reimbursement rules do and do not cover.
Payment Systems RegulatorChecked against the source record and refreshed the figures and dates in the panels. No findings changed.
FCA Financial Services RegisterFirst published.
FCA Warning List
Updates and change log
- First published
- Last updated
Added the current free reporting routes and clarified what the reimbursement rules do and do not cover.
Payment Systems RegulatorChecked against the source record and refreshed the figures and dates in the panels. No findings changed.
FCA Financial Services RegisterFirst published.
FCA Warning List
Sources for this report
- Bank of England Bank Rate and Monetary Policy Committee decisions — The rate decision referenced in this report.
- FCA Financial Conduct Authority Warning List — Primary record of firms the FCA says may be operating without authorisation.
- FCA FCA Financial Services Register — Authoritative check on whether a firm is authorised and for what.
- PSR Payment Systems Regulator — APP fraud reimbursement — The reimbursement requirement for authorised push payment fraud.
- FOS Financial Ombudsman Service — Free, independent adjudication and published decision data.
- Action Fraud Action Fraud reporting service — The UK national reporting centre for fraud and cybercrime.
Sources for this report
Bank Rate and Monetary Policy Committee decisions
Bank of England
The rate decision referenced in this report.
Read the original sourceFinancial Conduct Authority Warning List
FCA
Primary record of firms the FCA says may be operating without authorisation.
Read the original sourceFCA Financial Services Register
FCA
Authoritative check on whether a firm is authorised and for what.
Read the original sourcePayment Systems Regulator — APP fraud reimbursement
PSR
The reimbursement requirement for authorised push payment fraud.
Read the original sourceFinancial Ombudsman Service
FOS
Free, independent adjudication and published decision data.
Read the original sourceAction Fraud reporting service
Action Fraud
The UK national reporting centre for fraud and cybercrime.
Read the original source
We link directly to the original source wherever possible. A source may update its own page after we publish; we show the date we last recorded or updated the citation.
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- Investment scams
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About the author
Priya Raghavan — Priya tracks the FCA Warning List, clone firms and unauthorised investment promotions, and writes the reference explainers.
Reader comments
0 published comments · moderated by the newsroom
House rules: comments are for readers' own experience and questions about the reporting. We remove spam, abuse and anything that names a private individual without cause. Comments containing links are held for an editor before they appear. We cannot tell you whether you have a claim, and we do not pass details to any solicitor, claims firm or representative.