In recent years, many companies have become aware that their shareholders have received unsolicited phone calls or correspondence concerning investment matters. These are typically from overseas based ‘brokers’ who target UK shareholders, offering to sell them what often turned out to be worthless or high risk shares in US or UK investments. These operations are commonly known as ‘boiler rooms’. These ‘brokers’ can be very persistent and extremely persuasive.
If you do not know the source of the call, check the details against the Financial Conduct Authority (FCA) website below and, if you have any specific information, report it to the FCA using the Consumer Helpline or the Online Reporting Form.
If you have any concerns whatsoever, do not take any action and do not part with any money without being certain that:
- You fully understand the transaction;
- You know who you are dealing with and that they are registered with and authorised by the FCA;
- You have consulted a financial adviser if you have any doubts. Remember, if it sounds too good to be true, it almost certainly is. You run the risk of losing any money you pay out.
If you are worried that you may already have been a victim of fraud, report the facts immediately using the Action Fraud Helpline. Should you want any more information about ‘boiler room’ and other investment-type frauds, you will find a great deal on the two websites below.
Action Fraud Helpline
0300 123 2040
Action Fraud Website
FCA Consumer Helpline
0845 606 1234
FCA Scams & Swindles Website