Latest financial scams and frauds October 2024

Most commonly, scams targeted at FSCS customers will involve at least one of the following:

• A cold call.
• A mention of 'guaranteed returns'.
• A request for an upfront payment.
• An email address that is filled with random numbers or is misspelt. 
• A company that is not regulated by the Financial Conduct Authority (FCA). Check the FCA's register.

Scammers can also use the name of a legitimate firm to try and get you to part with your money. Always check the FCA register for any warnings about cloned firms.

If you’re suspicious about any email, text message or phone call from someone claiming to be from FSCS, please don't give out any personal financial information. Emails with a different ending such as @zoho.com are not from FSCS.

Official FSCS emails end with @fscs.org.uk. However, it is possible for scammers to make it look like they have an official FSCS email address, so you should still be careful even if the email address ends in @fscs.org.uk.

It's completely free to make a claim through FSCS – we will never ask you for money. If in doubt, contact us by email or phone.

Latest scams

18 October 2024 - Email addresses ending in @fscsrecovery.org

We have been supplied with a copy email purporting to be from an address ending in @fscsrecovery.org with a telephone number of +447418623449. The email contains some of our intellectual property, such as the FSCS logo, perhaps in an attempt to make it appear legitimate. The email is part of a scam and neither email addresses ending in @fscsrecovery.org nor the telephone number +447418623449 are used by FSCS. Please find an anonymised copy of the email here (PDF 68KB).

1 October 2024 - Phishing letters

We have been made aware of scam correspondence mentioning one of a number of insolvent or dissolved companies inviting the recipient to call a telephone number and lodge a claim. The correspondence appears on FSCS headed paper and includes forms similar to those issued by the Insolvency Service.

The insolvent companies named in the paperwork are:

• Access Commercial Investors 4 Plc
• Essex and London Properties Ltd
• Shenton International Bonds Plc
• Walsham Chalet Park Ltd
• Australian Portfolio Wines Ltd
• Store First Ltd
• Fluid Trust Plc
• Rowanmoor Personal Pensions Ltd

FSCS has not issued the letters and does not anticipate corresponding with members of the public about these companies, with the potential exception of Store First Ltd, Rowanmoor Personal Pensions Ltd and Walsham Chalet Park Ltd.

The letters often appear to have been signed by Anthony Stedman or Adam Giles, neither of whom is employed by FSCS, or Richard Parkin, who is a non-executive director on the FSCS Board, or Martyn Beauchamp, who is FSCS’s interim chief executive. FSCS does not issue forms on Insolvency Service headed paper, such as a proof of debt form or CAU103. We do not charge claimants a fee for our services.

Please check any correspondence you receive mentioning these businesses is genuine before responding. If the correspondence is not genuine, then you might report it to Action Fraud who can be contacted via their website at https://www.actionfraud.police.uk/.

20 August 2024 – Evergreen Capital Advisors

We have been supplied with scam correspondence in the name of Evergreen Capital Advisors asking for a trade reference number. Please find an anonymised example here (PDF 417KB). We understand there is a company using this name and we have confirmed with them that they are not involved with the letters.

The recipients of the letters are informed that supplying a trade reference number will result in money being paid to them and if they do not have a trade reference number, they are encouraged to call the scammer and pay for a temporary licence.

FSCS is referred to at the bottom of an order confirmation form attached to the letter. We are not involved with the letters, Evergreen Capital Advisors Limited have stated they are not involved with the letters and we do not charge potential claimants for our services.

We have also been made aware of scams where scammers claiming to represent FSCS have contacted members of the public via WhatsApp. FSCS does not communicate via WhatsApp.

18 August 2024 –  Telephone number spoofing

FSCS has been made aware of telephone number spoofing being used to perpetrate scams. Spoofing involves scammers using fake caller IDs to make it look as though a telephone call originates from a trusted organisation such as FSCS. Scammers often use this to attempt to obtain bank details and other personal information, to gain access to funds in a person’s bank account.

If you’re unsure about whether a call you’ve received is from FSCS, hang up and get in touch with us via our contact us page.

22 July 2024

FSCS has been made aware of a fraudulent letter in circulation, urging recipients to return a form in order to receive compensation or call a number to ‘lodge a claim’. The letter appears on FSCS letter headed paper with an accompanying form claiming to be from The Insolvency Service.

This letter has not been issued by us, and the sender, Mr Adam Giles, does not work at FSCS. We will never issue any forms on behalf of The Insolvency Service in the process of dealing with any claims.  The phone number used on the letter does not match FSCS’s legitimate number.

If you are unsure about whether a letter you have received is genuine, you can get in touch with us via our contact us page. If you have been affected by a scam, you can report this to Action Fraud here.

14 February 2024 - Phishing letters and calls
This month several people have reported receiving calls about investments into Dolfin Financial claiming to be from FSCS.

Additionally, others have received fraudulent letters and emails using the FSCS logo and the name Oakwell Capital Partners, signed off by an individual who claims to be the Head of Compliance but in fact does not work for FSCS.

We believe these calls and letters are the work of scammers who are trying to extract personal and financial details in what are known as ‘phishing’ scams. Their next step would be to use this information to scam you out of money or to make you visit a website that allows them to access your phone or computer.

FSCS is a free service and we would never ask you for money. If you’re in any doubt as to the authenticity of any communication from FSCS, call us on 0800 678 1100. We’re always happy to talk.

23 November 2023 - Phishing scam
We’re aware of a phishing attempt involving a link that, when clicked, takes the user to what looks like the FSCS homepage. If you see this link (camsharepdf.com) please don’t click on it and always be mindful of clicking unknown email links.

Scammers can create fake log in screens to steal your username and password details. Please always contact us directly if you’re ever unsure if a link or email is from us.

19 October 2023 - Vishing scam
FSCS has been made aware of a vishing scam. ‘Vishing’ is where the scammer uses a fake caller ID profile to claim the call is coming from a trusted source. The scammer will then try to get personal confidential information, such as bank details, to make unauthorised purchases or withdrawals from that person’s bank account.

If you have any doubts as to the authenticity of a call from FSCS, hang up and call us back on a different device.

17 October 2023 - WMSCS / Wealth Management Service Compensation Scheme
We are aware of a fraudulent website using images and information copied from FSCS. This website is not related to or part of FSCS. Our webpages start with the URL www.fscs.org.uk and email communications will always come from the @fscs.org.uk domain.

If you’re ever unsure that a letter or email from FSCS is genuine, please get in touch by using the information on our Contact us page.