Scammers continue to target London Capital & Finance bondholders
The UK Financial Services Compensation Scheme (FSCS) today issued a warning regarding scammers who target London Capital & Finance (LCF) bondholders.
Fraudsters using the company names LC Holdings and Capital Finance are claiming to be able to get compensation for the full amount of your LCF investment. Both are scams, and there may well be others, FSCS warns.
The body advises investors to be very wary of any emails, letters or calls claiming to be from LCF or someone else offering to help them get access to compensation. If you are unsure at any time if a call is genuine, please hang up and contact FSCS directly using the information on FSCS’s “Contact us” page.
In January, FSCS issued a warning to London Capital & Finance bondholders saying that a new scam has been detected and that they may be targeted by it.
The administrators of LCF, Smith & Williamson, have been shown emails sent to LCF bondholders from email@example.com that claim to be from a director of LCF but appear to be a scam.
These emails encourage the reader to call a phone number and ‘lodge a claim into the government scheme’, ‘lodge claims directly with our financial intermediary’, ‘claim your personal settlement’ or other similar phrases. They also threaten that a ‘failure to act’ will result in you ‘waiving your right’ to money or ‘receiving nothing’.