The City regulator has defended its Google adverts campaign which warns consumers that peer-to-peer lending is a high-risk investment.
The Financial Conduct Authority (FCA) was criticised after spending money on the campaign which resulted in searching the term ‘ISA’ leading to an FCA webpage entitled “high-return investments”.
The regulator listed P2P as an example on the website, alongside other types of investments such as cryptoassets and mini-bonds.
“We recently launched a pay-per-click (Google Ads) campaign to inform consumers about the inherent risks of high-return investments,” an FCA spokesperson said.
“We make no apologies for helping consumers to make better informed investment decisions and avoid potential scams.”
On its webpage the FCA warned that it has seen too many examples of consumers searching online for high-return savings and investments, investing in high risk investments and then losing all their money.
“If high returns are being promised or even suggested, then this means there are higher risks associated with the investment,” the regulator warned on the site.