Shareholders warned to be on the lookout for fraudsters by FSA
The FSA has today announced the discovery of a database holding 11,000 shareholders personal details which were in the possession of share sales fraudsters working in "boiler rooms". It seems as though the 11,000 shareholders on the database were about to be contacted about potential share transactions which were fraudulent but may have looked attractive to many of the UK population who are in financial trouble. The FSA has warned the UK population to be on the lookout for increased instances of attempted fraud as the current climate is perfect for fraudsters to operate in.
In summary, if a proposition looks too good to be true then it most likely is and if you are not sure potential victims are advised to check the FSA website and take further advice if necessary. The basic advice is clear, do not make any payments for unsolicited offers which appear to be too good to be true. This is the often unseen area of criminal activity with many victims embarrassed to report the fact they have been taken in by such offers resulting in only a tiny percentage ever being reported to the police.
As they say, if in doubt do nothing!
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