Arrests made in crackdown on finfluencers

In a recent crackdown on "finfluencers," the Financial Conduct Authority (FCA) has taken action to remove hundreds of social media posts and websites offering financial advice. This international effort has led to arrests in the UK, targeting those providing illegal financial advice without proper authorization. Regulators in various countries including the UK, Australia, Canada, Hong Kong, Italy, and the United Arab Emirates are involved in this crackdown to ensure finfluencers adhere to regulations, cease unauthorized activity, and explain financial risks properly in their promotions.