FSA issues warning following rise in 'boiler room' activity
The Financial Services Authority (FSA) has warned of an increase in overseas fraudsters selling shares using the names, registration numbers and addresses of FSA authorised firms and individuals.
The FSA said it has noticed a significant rise in this type of fraud, with crooks imitating genuine authorised firms to try and convince consumers of their legitimacy.
Recently the FSA has seen instances where an authorised firm’s website has been cloned but with a few subtle changes, such as a different phone number or false email addresses.
Should anybody receive an unsolicited call or email from a firm which they are not a customer of, the FSA is recommending that people should take the
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