Trading Standards warning On PPI refund scam

Stirling and Clackmannanshire Council Trading Standards is warning local residents about a new telephone scam, which targets people who have taken out Loan Payment Protection Insurance (PPI).

The warning follows a number of complaints made to the Trading Standards Consumer Advice Team about the scam.

The scam works when people are contacted by phone with the promise that they are owed significant sums of money in relation to a loan taken out previously. The fraudsters are very convincing and often have the person’s name and address details when they call.

The resident is asked to buy a UK Credit Voucher or UKASH Voucher for £200, to cover an administration fee.  The scammer says that once this money has been paid, a lawyer will then visit them at home with the cash payment from the PPI Scheme.  The scammer then calls back and asks for the UKASH voucher number. Once they have the voucher number - they 'cash-in' the voucher online - and the resident never sees the lawyer or the 'refunded' PPI money.

Trading Standards advice is that if you receive such an unsolicited phone call then do not divulge any personal information.  The best thing to do is to hang up the phone.

If you have received such an unsolicited telephone call and wish to talk to a member of the Trading Standards Team, please phone 0845 277 7000.