The Financial Services Compensation Scheme (FSCS) has warned consumers to steer clear of a Russian website claiming to represent the FSCS and asking people to register a claim.

Under the banner of Investor Protection Management, the site run by ‘Insider Group’ claims to be a wholly-owned subsidiary of the UK compensation scheme.

The website is believed to be using the logos of the FCA and the Prudential Regulation Authority in an attempt to scam investors into supplying financial details.

In a message to consumers the FSCS said: “FSCS is not connected with this site in any way. Please avoid falling victim to a potential scam or fraud. Protect your details; do not provide any information to this site.

A spokesman for the FSCS added: “Sadly, online scams are too common and this one also uses the logo of the UK regulators (the Financial Conduct Authority and the Prudential Regulation Authority).”

There are indications of a growing number of scammers targeting the FSCS.

In September, the FSCS warned consumers to be wary of fake emails from fraudsters claiming to represent FSCS.

The FSCS said it was aware that fraudsters have targeted at least one consumer via email asking them to share their personal data.

The compensation body’s advice to consumers is:
• Official FSCS emails end with @fscs.org.uk. Emails with a different ending are not from FSCS.
• FSCS will never ask customers for money or fees to make a claim for compensation.
• FSCS’s service is free to customers and no enrolment is required if you switch your banking provider, as long as they are authorised by the Financial Conduct Authority.