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FSCS copycat scammers strike again

FSCS-Piggy-Bank-500x320.jpgThe Financial Services Compensation Scheme is the latest agency to warn that scammers are trying to use its name to trick consumers into handing over money.

In a note published on its website, the lifeboat fund warns people to be wary of “fake emails from fraudsters claiming to represent FSCS.”

The FSCS writes: “Do not respond to these emails or provide any information. They are not authentic and the FSCS does not approach people in this manner. FSCS is aware that fraudsters have targeted at least one consumer via email asking them to share their personal data.

“Delete emails like this immediately and block the sending user using your email security settings.”

The FSCS, the Financial Ombudsman Service and the FCA have all sent a number of warning in recent years that fraudsters have been approaching members of the public using their branding.

The FSCS’s last warning over compensation fund copycats came in January this year, where email recipients were promised payouts of around £4.5m from the scheme.

The FCA frequently updates the market on ‘clone firms’ of popular investment and pensions brands, but has at least twice this year also encouraged consumers not to fall for fraudsters leveraging its own name.

An FSCS spokesperson says: “Sadly such scams are one of the plagues of modern life. They prey on people and try to lure them into handing over their personal information on the promise of riches.  Don’t let scammers get away with this. The FSCS will never approach you in this way.”

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