FSA to contact 38,000 potential scam victims
The Financial Services Authority (FSA) has confirmed it is in receipt of a list of 38,000 UK investors at potential risk of share scams. In a joint operation with the US authorities the FSA is in the process of contacting those on the list to warn them of the threat that "boiler room" share fraudsters may contact them in the short term.
Quite how this list of 38,000 potential investors was put together remains to be seen but it appears each one is a potential target for fraudsters. While the majority of the addresses are London-based there are some in the North of England and some in the Southeast. It is understood that many of these fraudsters regularly buy and sell lists of potential targets which contain contact details with potential victims often subjected to hard sell sales tactics and outright lies.
This is by far and away the biggest list of "targets" which the FSA has ever come across and shows the massive investment in time and money from UK regulators and those in the US. In a race against time the FSA will be contacting all members on this list and we can only keep our fingers crossed they have not been beaten to the punch by the fraudsters!
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