The Financial Services Compensation Scheme has issued a warning over a claims management firm which is using the scheme’s name as part of its online advertising.
In a consumer alert on the FSCS website, the scheme raises concerns that the claims firm could be misleading customers.
The alert says: “A claims management company is using the initials of the FSCS in its online advertising. This may mislead consumers. FSCS is not connected to the company, which charges for its services.”
The firm is not named by the FSCS.
However, anyone googling the phrase “FSCS” will be confronted with an advert and link to the website of claims firm Professional Personal Claims as the first sponsored search. The firm was unavailable for comment at the time of going to press.
The FSCS says it will be contacting the firm regarding the advert.
The FSCS estimates consumers pay a total of £12m in fees to claims management firms each year.