Morning commuters at London’s Waterloo station were met with an unusual sight this week as a mysterious ATM promised to “give away a fortune”, only to reveal a rather different message.
Instead of cash, the machine unveiled Emil the Seal, the Financial Conduct Authority’s (FCA) mascot, delivering a warning about the growing threat of investment scams.
The playful stunt was designed to capture attention during the busy rush-hour period, with passers-by encouraged to approach the ATM under the impression that they might receive a reward. As the screen opened, however, Emil the Seal appeared to share a “fortunate” message, urging people to “check it’s real before you seal the deal”, highlighting how easily consumers can be misled by offers that seem too good to be true.
The activation marks the launch of the FCA’s new Firm Checker tool, a digital service created to help consumers quickly verify whether a financial firm is genuine and authorised before handing over any money. The tool allows users to cross-check a firm’s contact details against the FCA’s official register, making it easier to identify criminals posing as legitimate businesses.
While the campaign adopted a light-hearted tone, it was driven by a serious and growing problem. According to the latest FCA figures, in the 12 months to May 2024 around 700,000 adults in the UK experienced an investments-related fraud or scam. The regulator says this demonstrates how widespread financial crime has become, despite increasing awareness of the risks.
The pop-up ATM was specifically designed to challenge one of the key tactics used by fraudsters: urgency. Scammers often pressure victims into making quick decisions by presenting offers as exclusive, time-limited or highly profitable. By stopping commuters in their tracks, the FCA aimed to disrupt this pattern of behaviour and encourage people to pause before acting.
FCA executive director of authorisations Sheree Howard said: “Checking isn’t hesitation – it’s the new power move. Scammers thrive on urgency and excitement, which is why we’ve used Emil the Seal to break that spell and remind people to always stop and check whether a financial firm is genuine and authorised before sealing the deal. Our new Firm Checker tool gives consumers a fast and simple way to see if a firm is FCA-authorised and help avoid scams.”
Despite rising public awareness, FCA research suggests many people are still vulnerable. Around 72% of UK adults say they usually reject unsolicited contact about pension or investment opportunities, while 68% regularly check their bank and credit card statements for unfamiliar transactions. In addition, 62% claim they ignore unexpected website links, even when sent by family or friends. However, the continued volume of losses indicates that consumers often skip the final step of checking whether a firm itself is legitimate.
The regulator is now urging people to make firm-checking a routine habit, comparing it to locking the front door before leaving home. The Firm Checker tool is positioned as a simple but effective safeguard against criminals impersonating authorised financial institutions, helping users confirm that phone numbers, email addresses and websites match official records.
Ultimately, the FCA’s message is clear: if an investment opportunity feels exciting, urgent or “too good to miss”, consumers should stop, verify the firm using the Firm Checker, and only then decide whether to proceed.
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