Vulnerable customers and digital channelsHow financial services firms can protect customers while fulfilling regulatory obligations Since 2015 when the Financial Conduct Authority (FCA) published Occasional Paper No. 8: Consumer Vulnerability, the regulator has had an increasing focus on vulnerable consumers. They define vulnerable customers as, “...someone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care.” While the definition of what constitutes vulnerability has not changed, the FCA’s expectations have. The FCA estimates that half of adults living in the UK (25.6 million people) display one or more characteristics of being potentially vulnerable. In their report Guidance Consu

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