Cold calls and WhatsApp messages impersonate FSCS to steal money via fake compensation claims
Impersonating: FSCS (Financial Services Compensation Scheme)
What is this scam?
The Financial Services Compensation Scheme (FSCS) has warned of fraudsters impersonating FSCS agents via cold calls, WhatsApp, and Telegram, falsely claiming victims are owed financial compensation or that their savings are at risk. Fraudsters reference fake reference numbers (labelled URN or CRN), mention 'capital reimbursement', request upfront fees, or instruct victims to download remote access software such as AnyDesk to 'process' a claim. FSCS is entirely free to use — it never cold-calls members of the public, never requests upfront fees, and never contacts anyone via WhatsApp or Telegram.
Example scam message
Cold call: 'Good afternoon, this is the FSCS financial protection team. Our records show you may be eligible for £3,200 in compensation relating to a mis-sold financial product. Your reference number is CRN-88142. To process your claim and release funds, we need to verify your bank account — there is a small £75 AML processing fee, can you provide your card details now?' [FSCS never charges fees, never cold-calls about compensation, and any reference number given is fabricated — hang up and contact FSCS directly at fscs.org.uk]
Red flags to look out for
- The message creates urgency — threatening a fine, missed delivery, or account closure.
- Links lead to unofficial domains that don't match the real company's website.
- You weren't expecting this message and can't verify the event it references.
- It asks you to confirm payment details or personal information via a link.
- The sender's number or email address doesn't match the company's official contact.
What to do if you receive this
- Do not transfer money — your bank will never ask you to move funds to a 'safe account'.
- Hang up and call your bank directly on the number printed on the back of your card.
- Report it to Action Fraud at actionfraud.police.uk.
- If you've already transferred money, contact your bank immediately and ask about the APP fraud refund scheme.
Received this message?
Forward it to 7726 (free on all UK networks) to report it to your mobile provider.
You can also report it to Action Fraud
or email the NCSC at report@phishing.gov.uk.
Not sure if your message is a scam?
Check it instantly with our free AI-powered detector.
Check a message nowSource: Other