Customers of the now defunct Icelandic bank Icesave could be at greater risk of phishing attacks in the coming weeks, according to online security analyists.

Icesave, the British savings branch of Reykjavik based Landsbanki, ceased trading in October following the collapse of the Icelandic economy, with an estimated 200,000 customers unable to access around £3bn ($4.8bn) of savings.

The UK Financial Services Compensation Scheme (FSCS) is responsible for coordinating refunds for customers of the bank and is preparing to send out two emails detailing how customers can claim back their savings and requesting that they complete a “short online process” to initiate refunds via Bacs transfer.

The emails will not request that customers disclose any personal information or account details.

The move however has raised concerns that Icesave customers could be subjected to an increased risk of phishing email scams and already, some ISP’s have blocked emails Icesave from the FSCS as an anti-spam and security measure.

It’s believed that by disclosing the company’s standard email layout, phishers will find it easier to replicate the company’s image in rouge emails and websites.

The FSCS said that all Icesave customers should have received emails by last Friday which gave further details of how customers can transfer their money automatically to a linked bank account. Those that have not received this communication are being asked to contact the FSCS on 0845 7300 131.

A second email, due to be sent to all Icesave depositors later this week, will provide instructions on how they can log on to their existing Icesave accounts to complete an electronic transfer allowing them to access their money again.

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