Government warns on fraudulent CMCs targeting investors

Industry News | 17/01/20

Fraudsters are contacting investors in defunct schemes claiming to be able to recover their lost funds for a fee, the government has warned. The Insolvency Service published an alert (January 13) warning it was aware fraudulent claims management companies were targeting consumers who had invested in insolvent schemes claiming to be from the Official Receiver’s office. The scammers tell investors they have been appointed by the Insolvency Service to help recover funds for a fee, but the government warned such approaches were “always fraudulent”.

Source: FT Adviser