Share Fraud

aka Boiler Room Fraud

Remember: if it sounds too good to be true, it probably is!

It sounds obvious, but if a stranger rings you out of the blue and tries to sell you shares in companies you've probably never heard of - take great care.

They may be part of a financial scam using hard-sell tactics to persuade you to buy shares.

If you buy them, you may be left with potentially worthless shares.  You may also have no rights to complain or claim compensation from the relevant UK schemes as most of these boiler room frauds are based overseas.

Click to access the complete FSA report on this subject 

Further reading:

• FSA list of unauthorised overseas firms operating in the UK
• City of London Police - Operation Archway
• Fraud Advisory Panel advice leaflet
• Protect yourself against Boiler Room Fraud
• BBC article disclosing victims' experiences
• Q&A: Boiler room scams
• Lothian and Borders Police press release