According to new data released by the Financial Conduct Authority (FCA) in the UK, the regulator intervened in 8582 misleading advertising and promotional activities in 2022, a figure 14 times higher than in 2021.

The FCA has requested companies that publish false promotional information about investments, transactions, and financial products to remove the relevant content. The regulatory agency also requires large technology companies to adjust their advertising strategies to avoid being banned.

Due to the increasing pressure of daily life, FCA has focused on protecting consumers who are susceptible to online payment fraud and misleading advertising. The goal of this regulatory agency is to establish stricter regulations on financial promotional activities to prevent unauthorized "financial internet celebrities" from using consumers for illegal profits.

Sarah Pritchard, Executive Director of FCA Marketing, commented: Financial promotions must be fair, clear, and not misleading. By utilizing better technology, we can now detect advertisements of poor quality or misleading content more quickly. Once we discover these advertisements, we will intervene and have the company improve or completely remove them. In 2023, we will continue to exert pressure on people who use social media to illegally promote investment services to avoid putting the hard-earned money of ordinary consumers at risk In the middle