Kaupthing Singer and Friedlander update

27th February 2009

So far we have paid almost £32m to just under 2,200 customers, and are continuing to process claims as quickly as possible.

The FSCS recognises that customers of Kaupthing Singer and Friedlander yet to receive compensation and who are involved in this claims process will be concerned about their compensation, and we would like to reassure them that our priority, as always, is to pay the compensation that is owed to them as quickly as possible. We are doing all we can to achieve this. 

We are dependent on the bank's records for validating and processing claims and the data has been very complex to resolve. We have worked through a lot of the claims and we continue to work through the records resolving any inconsistencies or gaps in the data as quickly as possible, whilst ensuring that the decisions are made on accurate information.