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It highlights why early intervention is essential and strengthens our resolve to continue fighting for stronger action from the Government, law enforcement and financial services industry to tackle scam organisations. Our work means we are a regular target for scammers who try to prevent us disrupting their scams. The Financial Watchdogs Fraud Team will closely monitor the launch of scam investments and recovery room frauds and will intervene to protect potential investors and financial institutions from loss.

The cost to the financial services industry in compensation payments is significant and could, in many cases, be avoided by an early warning system. The reputation of the UK as a safe and secure financial environment is seriously damaged by the failure to identify, intervene and close down investment scams at an early stage. If we can identify the scam early enough we can prevent significant investor losses and the distress which goes with it. We work with like-minded organisations on early-stage scam detection and prevention. Our aim is to support individuals, companies and UK financial institutions to identify scam and fraudulant investments and recovery room frauds.

Financial watchdog meaning