750 targeted in fake shares con
THE City watchdog yesterday warned 1,000 people that their names were on a list being used by fraudsters trying to sell fake shares.
The consumers are being contacted after the Financial Services Authority and City of London Police found their personal details on a master list being used by criminals involved in so-called boiler-room scams.
The list contained the names and telephone numbers of about 750 people.
Boiler-room scams involve fraudsters using high pressure sales tactics to con investors into buying overpriced or even non-existent shares.