Stay safe from scammers
FSCS will never ask for money.
If you think you can make a claim with FSCS, then you’re at risk from scammers. But it’s easy to stay scam smart, spot fraudsters and keep safe online when claiming with FSCS.
Firstly, FSCS will never ask for money. Not before we start, not during the claims process, and not afterwards. We’re a completely free service funded by a levy on the financial industry. That means it costs nothing to make a claim, whether you’re successful or not.
Secondly, there are some tell-tale signs that someone’s attempting to scam you. These include
- A cold call
- A mention of 'guaranteed returns'
- An email address filled with random numbers or is misspelt
- The company contacting you is not regulated by the Financial Conduct Authority (check the FCA's register).
Thankfully, fraud in the UK is relatively rare. But in the past, we’ve seen a fake website that asked people to register a claim with FSCS, scam emails that promised high-value payments, emails asking for payment for using our services, and more recently an ‘Anna Nowak’ claiming to be from the FSCS. Also, look out for more general phishing scams – where the fraudster is after your contact and bank details.
To keep yourself safe from financial scams, be they pension scams, bank scams or forex scams, check the details of the investment. Ask yourself, is the provider genuine, and is the investment regulated? You can check if the provider is regulated on the FCA’s register. And if the provider can’t confirm that the investment is protected, then assume the worst. Check with the FCA’s warning list for further peace of mind.
If you suspect fraud or think you’ve been a victim of fraud, contact Action Fraud on 0300 123 2040. If the fraud involves FSCS, contact us. We take your privacy seriously and will never pass on your details to third parties.
Latest News from
FSCS Temporary High Balance coverage extended05/08/2020 12:25:00
The Financial Services Compensation Scheme’s (FSCS) Temporary High Balance (THB) protection for deposits of up to £1m will be temporarily extended from six to 12 months for deposit-taker failures occurring from this Thursday, 6 August 2020.
FSCS adds further strength to its Board with three Non-Executive Director appointments30/07/2020 12:25:00
Mr Marshall Bailey OBE, Chair of the Financial Services Compensation Scheme (FSCS) yesterday announced the appointment of three new Non-Executive Directors to the FSCS Board.
FSCS enables 18,000 SVS Securities clients to have access to their money and assets27/07/2020 12:25:00
Around 18,000 former clients of wealth management firm SVS Securities plc can begin to access their money and assets from the new nominated broker ITI Capital Ltd as of friday (24 July 2020).
FSCS publishes its 2019/20 Annual Report and Class Statements09/07/2020 15:02:00
The Financial Services Compensation Scheme (FSCS) helped over 258,000 customers to get their lives, families and businesses back on track during 2019/20.
Stay safe from scammers06/07/2020 13:48:00
If you've dealt with a financial firm that's failed, then you’re at risk from scammers. But it’s easy to stay scam smart, spot fraudsters and keep safe online when claiming with FSCS.
E-money and prepaid accounts – why doesn’t FSCS protect my money?06/07/2020 10:20:00
E-money (electronic money) isn’t something FSCS protects – read on to find out why and how to check your money is safe.
Fiona Kidy appointed Chief Financial Officer03/07/2020 16:07:00
The Financial Services Compensation Scheme (FSCS) is pleased to announce Fiona Kidy as its newly appointed Chief Financial Officer (CFO) from 1 July, following a competitive recruitment process.
Keeping your money safe11/06/2020 12:25:00
Emma McAllister explains the process and limits of the FSCS protection scheme for banks, building societies and credit unions.