The Financial Services Compensation Scheme (FSCS) has warned London Capital & Finance clients to be wary of letters on FSCS letterhead.
These letters do not come from the FSCS. This is a scam and LCF customers should ignore these letters and be careful of being scammed.
They encourage LCF customers to contact the FSCS to receive compensation following the liquidation of LCF assets.
London Capital & Finance (LCF) entered administration on January 30, 2019, and FSCS declared bankruptcy on January 9, 2020.
As of 19 April 2021, the FSCS had completed its review of the evidence collected during the investigation and had paid more than £57.6 million to 2,871 bondholders who were eligible for compensation under FSCS rules.
On 31 October 2022, FSCS ended the LCF compensation scheme that FSCS administered on behalf of the government.
Since the launch of the scheme, FSCS has successfully paid out compensation to 99.5% of eligible clients, totaling £115 million in compensation, helping clients and their families get back on track.
