Police warn about 'Boiler Room' scam
Published Date:
07 May 2008
By Staff reporter
AN alert has been raised by the police over "convincing fraudsters" who practice share scams, known as 'Boiler Room Scams', to try to sell worthless shares by cold calling potential investors.
A PSNI spokesman says: “These scams target anyone with money such as retirees, business people or professionals and are very convincing.
“The callers often put immense pressure on the investor to make a hasty investment decision”.
Police say that people should only purchase shares through known and reputable brokers, and to prevent being their next victim, should be suspicious of any unsolicited calls from a financial services company.
Checks should also be carried out with Financial Services Authority consumer helpline on 0845 6061234 or on their website www.fsa.gov.uk to establish if the company is authorised.
“Do not share any personal information with the caller,” the police spokesman advised.
“If you receive a call and they are persistent, remain firm and terminate the call”.
Fraud Unit Officers are willing to advise any person who thinks they may be a victim of a ‘Boiler Room’ scam and can be contacted on 0845 6000 8000.
The full article contains 192 words and appears in Ballymoney Times newspaper.
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Last Updated:
05 May 2008 10:33 AM
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Source:
Ballymoney Times
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Location:
Ballymoney
