FSCS Warns LCF Bondholders of New Scam

The Financial Services Compensation Scheme（FSCS） Publishes on Wednesday that London Capital and Finance (LCF) bondholders have been approached by what appears to be scammers via emails.

The administrators of LCF, Smith & Williamson, have been shown emails sent to LCF bondholders.

These emails were sent from info@londoncapitalfinanceuk.com and claim to be from a director of LCF.

According to DomainTools, the info@londoncapitalfinanceuk.com domain was registered on 13 January 2022.

According to documents uploaded on Twitter by LCF Bondholders, LCF director Michael Thomson is potentially being impersonated by unknown individuals.

The FSCS warned that these emails appear to be a scam.

The lifeboat fund wrote in its update: "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'."

In addition, the FSCS stressed that the phone number quoted in the emails can be found on a website which the Financial Conduct Authority（FCA）warns is unauthorised.

FSCS calls LCF bondholders to be "extremely wary" of any contact that isn't directly from FSCS or LCF's administrator.

"You do not need to do anything to receive compensation under the government scheme, and FSCS will be in touch with everyone by 20 April 2022," the FSCS said.

The lifeboat fund already signalled on 20 December 2021 that there had been reports of LCF bondholders being contacted through social media or called by individuals.

These individuals asked LCF bondholders questions about their compensation and offering help.

The FSCS stressed that it does not use social media to speak to customers directly about their claims or compensations.

It urged LCF bondholders to be wary of any contact, especially through social media, as it may be a scam.

As of 16 December 2021, the FSCS has paid compensation to just over 84% of eligible LCF bondholders.

Source: Money Marketing