The UK’s top financial watchdog, the Financial Conduct Authority (FCA), has kicked off 2023 with strict warnings for the tech and crypto sectors, amid concerns that the cost of living crisis will make some more susceptible to financial scams.

Last year, the FCA made companies change or remove 8,252 misleading or fraudulent promotions — 14 times more than in 2021.

This sharp uptick in FCA regulation is expected to continue this year.

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