It is the second time in barely two months that the FSCS has had to issue such an alert. The FSCS is the UK’s official compensation scheme of last resort for customers of authorised financial services firms.
It is warning consumers to avoid a Russian site claiming to represent the scheme and asking people to register a claim. The site is using the logos of the Financial Conduct Authority and the Prudential Regulation Authority.
Under the banner of Investor Protection Management, the site by Insider Group claims to be a wholly-owned subsidiary of the UK compensation scheme. FSCS has confirmed it is not connected with the site in any way.
In a statement the FSCS said: “Please avoid falling victim to a potential scam or fraud. Protect your details; do not provide any information to this site.”