Regulator watch · updated daily

The regulator warns.
What happens next?

72 %
of the investment websites that financial regulators warned about in the last 30 days still answer today: 171 of 237.

A warning does not oblige a website to close: it says the firm is not authorised in that country. So we check every warned website, every day, and analyse what is behind it.

Data as of 12 Oct 2026

Warned in the last 30 days

still onlineno longer answeringone square = one website

6,548

warned websites tracked

2,061

still online today

clones of authorised firms, still online

58 %

still online, warned in the last 90 days

Warned is not the same as fraud

How many were really fraud?

Our verdict on the 5,615 warned websites we have analysed. We only call one fraudulent when there is evidence beyond the warning itself; an unlicensed firm with nothing else against it stays "suspicious". Of the websites still online, 161 are fraud with evidence.

Fraud, with evidence

10.4 % 584

clone of an authorised firm, platform takedown, blocklist or our own findings

Suspicious

89.3 % 5,017

unlicensed in that country, no proof of fraud on its own

Legitimate

0.1 % 5

a real business despite the warning

How long they last

One in 4 is still online a year later.

Share of warned websites still answering, by how many months ago the regulator warned. Hover a column for the figures.

25%

50%

75%

100%

0123456789101112+

Months since the warning

Tap or hover a column

See the data as a table

Months since warning	Warned	Online	%
0	237	171	72
1	267	128	48
2	320	178	56
3	281	127	45
4	478	185	39
5	69	22	32
6	142	36	25
7	501	80	16
8	475	102	21
9	219	53	24
10	423	113	27
11	320	86	27
12+	2,816	780	28

What became of them

All 6,548 warned websites, today

Where each warned website stands today, whatever its verdict. Few were blocked by a platform; most of those no longer answering simply disappeared.

Still online

2,061 31 %

answering with a page

Neutralised

219 3 %

blocked by Cloudflare or taken down by their platform

Gone

4,268 65 %

no DNS 2,128 · parked 924 · not answering 1,216

By regulator

Warned, and still online

Bar length: websites each regulator has warned about. In orange: those still answering today.

Financial Conduct Authority (United Kingdom)395 / 1,341
Comisión Nacional del Mercado de Valores (Spain)312 / 989
Autorité des marchés financiers (France)195 / 652
Financial Markets Authority (New Zealand)98 / 462
CONSOB (Italy)119 / 457
Australian Securities and Investments Commission (Australia)127 / 446
Securities and Exchange Commission (United States of America)104 / 266
Swiss Financial Market Supervisory Authority (Switzerland)72 / 215
British Columbia Securities Commission (British Columbia)62 / 154
Financial Services and Markets Authority (Belgium)51 / 152

No developer needed

Built with website builders

107 warned websites run on a website builder, some of them AI-powered. A few platforms have already taken theirs down.

Webflow25
GoDaddy24
Wix14
Framer12
Lovable10
Squarespace7
WordPress.com6
Vercel3

Recently warned, still online

What they look like

A sample of websites warned in recent days that still answer. Each one opens its full report.

How we measure it

Warnings come from the regulators themselves, gathered through IOSCO's I-SCAN alerts network. Every day we request each warned website once. It counts as online when it answers with a page: not a parking page, not a hosting platform's takedown notice, not Cloudflare's phishing block. The headline figures use recent warnings, because a domain warned years ago may have changed hands.

A regulator's "not authorised" warning concerns licensing in its jurisdiction and does not prove fraud on its own. Each website's report says what else we found: clones of authorised firms, takedowns, blocklists.

Offered an investment online?

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Registrars, banks, security teams

Every warned website, its status and its evidence, daily. Request trial access.

The regulator warns.What happens next?