What is happening
Firms that are not allowed to offer financial services in the UK pay for adverts on social media and search engines. Which? found some kept advertising after the FCA warned about them, including one offering investments linked to SpaceX and a 'clone firm' selling temporary car insurance by copying genuine companies.
What it can look like
the more SpaceX earns, the more you receive straight to your account
Wording reported in the sources below.
The warning signs
- An advert promises profits linked to a famous company or news event
- The page running the advert is listed as something unrelated, such as a gaming creator
- Cheap temporary car, van or motorbike insurance from a name you do not know
- A site asks you to upload your driving licence and vehicle details
What to do
- Search the firm's name on the FCA warning list and the FCA register before paying
- Do not upload ID documents to a site you have not checked
- Report the advert to the platform
- If you have paid, contact your bank straight away and report it to Report Fraud
Already paid or shared your details?
- Call your bank straight away, using the number on your card.
- Change any passwords you shared, starting with your email.
- Report it (see below).
- Tell someone you trust. Scams catch careful people too.
United Kingdom
Report fraud at reportfraud.police.uk or call 0300 123 2040. In Scotland, call Police Scotland on 101. Forward scam texts to 7726 and scam emails to report@phishing.gov.uk. Call 159 to reach most UK banks.
United States
Report it at ReportFraud.ftc.gov. Forward scam texts to 7726.
Canada
Report it to the Canadian Anti-Fraud Centre on 1-888-495-8501. Forward scam texts to 7726.
Australia
Report it at scamwatch.gov.au. If you lost money, report it to the police at cyber.gov.au and call IDCARE on 1800 595 160 for free help.
Anywhere else
Report it to your local police or your national fraud reporting service.
Sources
- Scams in plain sight
Which? · 2026-10-07
We summarise warnings published by the organisations above. If something here is wrong, tell us and we will correct it.