If you wanted proof the FCA are useless read this

Have a read of this article published yesterday in This Is Money https://www.thisismoney.co.uk/money/experts/article-8187363/TONY-HETHERINGTON-Financial-Conduct-Authority-disgrace-20k-loss-proof.html

As I have repeatedly said – the FCA are absolutely fucking useless.

Only recently did they publish thousands of complainants private information.

Tony Hetheringtons bit here is poignant, “What this reveals is that the regulator’s website warnings are close to useless without further action from it. Neither Halifax nor Prepay Technologies was aware of the warning. “

Not only this but the warning list is totally inadequate and doesn’t contain hundreds if not thousands of scammers.
I have an inbox full of people saying, “But they’re not on the FCA warning list” – do you know how annoying this is, when you know the FCA are fucking useless?

The FCA do NOTHING with the warning. They print it up – they do not contact Action Fraud (Fraud bureau), they do not pass the information on to other agencies/regulators like Ofcom/IPSO/HMRC etc etc
The FCA do not share this information with payment providers or banks.
Nothing happens. Absolutely zero squat diddly doobrey.

The FCA investigation team are a joke – they cannot even view this blog because of their firewall – so what the bloody hell do they investigate?
I am pretty sure its nothing.
I think they are literally copying and pasting web forms when more than one complaint comes in, in a short space of time and then just post it – hard days investigating that is.

The FCA are totally inept/inadequate/useless – use whatever you like – they are unfit for purpose.

People have so little regard for the FCA they tell me they don’t bother reporting any of the scams. This exacerbates the whole issue.
Marry this with Action Fraud who take 6 weeks to even look at a report – manned by some third party, who don’t even respond in a number of cases – I never ever heard back when I used them (for non trading fraud)…
Add in Ofcom, ASA, HMRC, IPSO – who don’t give a flying fuck about anything (Each of those agencies/regulators have done NOTHING with regards to scams highlighted) and you have the situation we are in now – a scam epidemic.

We need a working cross agency/regulatory setup ASAP.
It MUST be capable of dealing with and investigating scams and scammers and then creating an actionable report by Police Fraud teams so people are prosecuted and all financial services and providers access this information.
If scammers have websites and social media (particularly Instasham pages – you cannot speak to a human at Facebook/Instagram) – it should be easy to report and get them closed down.
Where the media have posted PR or factually incorrect information they should be ordered to take to down and issue corrections. Frankly I’d go as far as holding them complicit in the fraud.

In some of the cases I am looking at, it is Four plus, years later and we see the same people still scamming in Forex.
The scammers MUST be prosecuted. This is fraud on a huge scale.

Bottom line – The FCA are nowhere – on anything.

If I can find out this information presented on this blog from searching Google why can’t the FCA? Its their full time job – not mine.

In the last few weeks I have been reporting scams – the FCA have lost my emails, they have lost my reports, any emails I have sent to open tickets have been ignored.

Every phone call with the FCA is appalling. It is manned by idiots – probably some third party again…

The FCA genuinely want me to write reports per scammer before they bother to actually investigate the scammer. Why the fuck am I doing their job for them?

We desperately need a functioning FCA – at present I cannot see the point in them existing given what they do around scams.

If you are a scammer in the UK – the message is clear – “Carry on Scamming”.