UK compensation scheme warns of potential scam

Phishing emails are luring people to part with personal information to claim large sums of money

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The Financial Services Compensation Scheme (FSCS) has alerted the public to fraudulent emails that are asking people to register a claim to receive “large amounts of outstanding monies owed”.

The compensation body advised: “We do not contact consumers in this way and urge anyone who gets this email not to reply or provide any personal information to avoid falling victim to a potential scam or fraud.”

The FSCS stated it is working closely with the UK’s national fraud and cybercrime reporting centre, Action Fraud, on this matter.

£91,000 lost

Figures from Action found that 253 victims lost an average of £91,000 ($118,967, €103,848) each to pension scams in 2017 – this equates to more than £23m.

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