Stay safe from scammers
FSCS will never ask for money.
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.
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 makes two appointments to its Executive Board14/10/2020 15:48:00
The Financial Services Compensation Scheme (FSCS) has made two new appointments to its Executive Team.
East West Insurance Company Ltd enters administration13/10/2020 14:10:00
East West Insurance Company Ltd (“EWIC”), a UK-based insurance company, entered administration on 12 October 2020.
Full recovery: FSCS closes the book on the 2008 banking crisis22/09/2020 10:25:00
Twelve years on, we've just received the final recovery payment from the 2008 banking crisis through the administration of Heritable Bank.
What if my bank just exists online?18/09/2020 10:25:00
FSCS protects your money held in all authorised UK banks, even if they don't have any branches.
Ask these key questions to make sure your money is protected07/09/2020 14:20:00
Blog posted by: Jess Spiers, 04 September 2020, Protection.
Protecting your financial future24/08/2020 11:05:00
Scammers know you might be considering your savings and investments at the moment.
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.