Warning to shareholders: share fraud and boiler scams
Please be aware that there has been an increase in share fraud and boiler room scams where investors receive unsolicited telephone calls from fraudulent companies, typically overseas based ‘brokers’, offering to buy shares in Companies, including CPP. We would like to advise shareholders to be vigilant of any unsolicited advice, offers to buy shares at a discount or offers of free company reports. While they promise high returns, those who invest usually end up losing their money. Please see the information below on what you should do if you are contacted in this manner.
How to protect yourself
Make sure you get the correct name of the person and organisation and make a record of any other information they give you e.g. telephone number, address etc.
Check that they are properly authorised by the Financial Conduct Authority ("the FCA") before getting involved by visiting http://www.fca.org.uk/firms/systems-reporting/register and contacting the firm using the details on the register.
Report the matter to the FCA either by calling 0800 111 6768 or visitinghttp://www.fca.org.uk/consumers/scams/investment-scams/share-fraud-and-boiler-room-scams/reporting-form If the calls persist, hang up.
Should you receive such a call we strongly recommend that you consult your stockbroker, bank manager, solicitor, accountant or other professional adviser authorised under the Financial Services and Markets Act 2000 as soon as possible. Please check the FCA’s advice on what to what to do if you are scammed and report such activity to the Financial Conduct Authority by visiting their website and using the share fraud and boiler room reporting form.
If you have already paid money to share fraudsters you should contact Action Fraud on 0300 123 2040
For further guidance please read the FCA guidance on boiler room scams and theFCA’s top tips to protect your savings.