Drivers warned about scam car finance payout calls
Summary
Motorists have been warned about scammers pretending to offer compensation related to unlawful car finance deals. The Financial Conduct Authority (FCA) plans to set up a real compensation scheme for affected drivers, but scammers are using this as an opportunity to trick people into giving personal details. The FCA advises people to be cautious and report any fraudulent calls.Key Facts
- The Financial Conduct Authority (FCA) is planning a compensation scheme for unlawful car finance deals.
- A Supreme Court ruling recently clarified some aspects of car finance commissions.
- Scammers are calling people, pretending to offer compensation, and asking for personal details.
- The FCA states no official compensation scheme is in place yet.
- People should hang up if they receive suspicious calls and avoid sharing personal information.
- The FCA encourages reporting scam calls or texts to the communications regulator, Ofcom.
- Motorists are advised not to use claims management companies, which could take up to 30% of any compensation.
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