The Financial Services Compensation Scheme has begun to offer compensation to consumers who have fallen victim to one of 50 ‘default’ firms.
The FSCS has recently declared these firms in default, meaning that they have been determined unable to pay claims made against them.
Mark Oakes, head of communications at FSCS, said: FSCS was established to protect consumers when authorised financial services firms go bust.”
He further urged consumers who feel they are entitled to compensation to contact the FSCS, using their free service.
