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 publishes 2021/22 Plan and Budget25/01/2021 10:25:00
Compensation scheme confirms its 2020/21 supplementary levy and announces its 2021/22 indicative levy and management expenses budget.
Our mission to promote pension protection21/01/2021 10:25:00
Many consumers in the UK don't realise that FSCS can pay compensation for pensions if a provider goes out of business.
FSCS expands Wellbeing Strategy to further support its people18/01/2021 14:10:00
Blog posted by: FSCS Chief Executive Caroline Rainbird, 18 January 2021, FSCS news.
FSCS declared 13 firms in default in November and December 202011/01/2021 14:10:00
Regular notice that consumers could be in line for compensation.
FSCS embraces artificial intelligence to help customers07/01/2021 14:10:00
FSCS is pioneering the use of artificial intelligence (AI) to help process claims – it's the latest innovation we've brought in to improve the experience for our customers.
Cryptocurrencies – are they covered, and what's the risk?22/12/2020 14:10:00
Find out what cryptocurrencies are, whether they're risky and whether they're covered by FSCS.
How FSCS has helped customers through a difficult year26/11/2020 14:10:00
We catch up with FSCS Chief Operating Officer Jimmy Barber during England’s 'second lockdown' to look back at FSCS’s performance during a challenging and unusual year.
FSCS forecasts latest levy position25/11/2020 14:10:00
The Financial Services Compensation Scheme (FSCS) yesterday published its half-year edition of Outlook, which gives an overview of the levy position at the mid-point of the 2020/21 financial year.