HM Revenue and Customs has put a stop to thousands of scam text messages from reaching phones, it says.

A company offering a binary options trading platform to investors has been successfully shut down by the Insolvency Service at Manchester District Registry after investors lost £350,000.

The FCA will take over regulation of binary options from the Gambling Commission from 3 January in the wake of a growing number of investment scams which have cheated investors out of millions.

The FCA has today launched a campaign to urge the public to stop remaining silent when financial scams occur. It also urges the public to seek impartial advice before investing.