FSCS warns of scam targeting London Capital & Finance customers
The UK Financial Services Compensation Scheme (FSCS) is warning that letters targeting London Capital & Finance customers are in circulation on FSCS headed paper.
They are encouraging LCF customers to get in touch so that they may get compensation following the liquidation of LCF assets.
These letters are not coming from FSCS. This is a scam and LCF customers should ignore the letters.
London Capital & Finance plc (LCF) went into administration on 30 January 2019 and FSCS declared it had failed on 9 January 2020.
By 19 April 2021, FSCS had finished its review of the evidence gathered during its investigation and had paid over £57.6 million to 2,871 bondholders who were eligible for compensation under FSCS rules.
On 31 October 2022, FSCS closed the LCF compensation scheme that FSCS has been administering on behalf of the government.
Since the scheme began, FSCS has been able to successfully pay 99.5% of customers eligible for compensation, helping customers and their families get back on track. In total, £115m has been paid out in compensation.