Simon Read: Check their credentials before you hand over cash
Wednesday 15 June 2011
Boiler-room scams have been around for decades, yet tricksters – often based overseas – still catch people out by persuading them to hand over tens or thousands or pounds for worthless shares. The carrot is always "a once-in-a-lifetime opportunity" or "get in now before the news is out". But the claims are always false and the only opportunity is for the fraudsters to fleece you.
The simple way to avoid becoming a victim is to ignore speculative emails or unsolicited phone calls. However, if you are tempted to invest with someone who contacts you, check them out before handing over cash. If they're not on the Financial Services Authority's Register then they're not authorised to sell you shares. That means if you deal with them, you'll have no recourse if things go wrong. Check the register at www.fsa.gov.uk/register.
Some crooks claim to be from a well-known firm that is on the register, but you can verify that by calling them back using the details on the register. Don't call them back using a number they've given you, because it could be anywhere. And if you are targeted, report the incident to the police and to the FSA on 0845 606 1234.
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
British are sexually uptight, dirty and drink too much – according to Spanish book
PornHub turns masturbation into energy in bid to save the planet
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...