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UK Financial Services Compensation Scheme warns of impostors

Amisha Mehta, Editor, London, 28 September 2016


The UK’s statutory compensation scheme has urged its users - customers of financial services firms - to be wary of fake emails.

The Financial Services Compensation Scheme has warned consumers about scam emails from fraudsters pretending to represent FSCS.

The fraudsters have targeted at least one consumer via email asking for a fee for FSCS services. Emails with a different ending such as @zoho.com are not from FSCS, it urged. Its official emails end with @fscs.org.uk. It added that it will never ask customers for money or fees to make a claim for compensation.

An FSCS spokesperson said in a statement: “The FSCS takes fraud very seriously. We are trying to identify these people and prevent them from impersonating the FSCS and defrauding our customers.”

“We’re asking customers to be vigilant and to contact us if they suspect anything suspicious relating to their claim.”

FSCS, which is funded by levies on authorised financial services firms, provides its service free to consumers. It paid out compensation totalling £327 million ($423 million) in 2014-2015, a 34% jump from a year earlier.

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