The Financial Conduct Authority is warning individuals about a new scam related to car finance compensation claims.
The watchdog has received reports of scammers contacting people after announcing a consultation on a potential car finance compensation scheme. Although no scheme is currently in place, fraudsters are posing as car finance lenders and falsely claiming that individuals are owed compensation.
These scammers are requesting personal information, including names, addresses, dates of birth, and bank details, under the pretense of facilitating compensation. The regulator advises anyone receiving such calls to hang up and report the scams by forwarding the information to Ofcom at 7726.