The UK Financial Services Compensation Scheme (FSCS) confirms that there have been reports of London Capital & Finance (LCF) bondholders being contacted through social media or called by individuals asking questions about their compensation and offering help.

This warning is issued following last week’s announcement by FSCS that it has paid compensation totalling £91.1 million to LCF bondholders under the government scheme.

FSCS warns:

“If you haven’t yet received your compensation, there is nothing you need to do. Please be wary of any contact, especially through social media, as it may be a scam. FSCS does not use social media to speak to customers directly about their claims or compensation.

If you are unsure if a call is from FSCS, you can always hang up and phone us directly on 0800 091 0030. All of our contact details can be found at www.fscs.org.uk/contact-us”.

London Capital & Finance (LCF) was a Financial Conduct Authority (FCA) authorised firm which issued unregulated non-transferable debt securities, commonly known as ‘mini-bonds’, to investors and then speculatively invested the funds received in a number of underlying businesses. LCF went into administration in January 2019 and at the point of failure 11,625 bondholders had invested around £237 million.