May 31, 2020

Dubious Claims

Claims Management Companies are significantly assisting MoneyCheats to make inflated or false compensation claims. But they are also in some cases, cheating on their clients as well by failing to refund up-front fees and delaying passing on funds for successful claims. The total number of CMCs has fallen from a peak of 3,213 in 2011 to 1,238 in 2018. Overall the top 25 highest grossing CMCs account for 57% of the total turnover. Turnover in the financial claims sector is £600.3 million, over 78% of all claims and an 11% increase on the previous year.

Read our Blogs

Read our latest Blogs where we raise some observations about some CMCs, now that their regulatory authority has moved to the Financial Conduct Authority.

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