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CTSI warns of insurance scam

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30/04/2021
The Chartered Trading Standards Institute has warned that insurance scammers are targeting consumers via post and email using its branding.

The letter or email tells the potential ‘victim’ that they have been exposed to a company that the CTSI has allegedly investigated in the past.

The fake CTSI-branded communications tell the recipient that insurance scammers have been caught and that the recipient should fill in a “creditors debt form” as part of a phoney compensation scheme.

The letters and emails are fraudulent and recipients who do fill out the form may put their finances at risk.

The CTSI was informed about this scam yesterday, and is urging anyone who receives this insurance scam letter or email to report it to the Financial Conduct AuthorityCTSI Chief Executive, John Herriman, said:

“Over the past year, CTSI has focused on warning and educating the public about emerging scams. It alarms me that scammers are using our trusted brand for such a malicious campaign at a time when we know the public is being bombarded with this type of fraudulent and illegal activity, and which makes everyone feel especially vulnerable.

“The public needs to be on their guard, and CTSI will continue to work alongside our partners in the consumer protection sphere to help defend them from these dangerous scammers.”

Essex Trading Standards and the Police are currently investigating.

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