• Shashin Patel

16,100 Beaufort Securities clients compensated but targeted by scammers

Scammers have been calling clients of Beaufort Securities in an attempt to get clients to transfer them money, claiming they will transfer it to their nominated broker. The scammers have claimed to be Beaufort Securities, PricewaterhouseCoopers (PwC) and The Share Centre amongst other third parties, according to Professional Adviser.


Beaufort Asset Clearing Services Ltd, the company that held all the money for Beaufort Securities, was placed in Special Administration in March 2018 - freezing £800 million from approximately 17,500 customers. PwC was the administrator in charge of attempting to recover the funds. So far, 16,100 clients have been compensated with 1,400 remaining.


Clients have been refunded funds without needing to claim. However, should clients have suffered additional losses as a result of Beaufort Securities, they can claim up to a fruther £50,000 per claimant.


The FSCS has stated it aims to complete the majority of claims relating to Beaufort Securities by the end of August 2019.


Should you have been impacted by this situation or have any questions about this article, please contact us on 0203 151 7150 or email shashin@straxcapital.com.

Strax Capital Legal is Claims Management Company and maybe able to help you recover money that you may have lost.

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