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Share frauds typically start with a cold-call to investors offering an inflated price for shares they own or the opportunity to purchase shares in a Company which subsequently turn out to be overpriced or worthless.
Increasingly sophisticated and high-pressured sales tactics are being employed to encourage investors to hand over sensitive information and/or sums of money.
The Financial Conduct Authority (FCA) has found most share fraud victims are experienced investors who lose an average of £20,000, with around £200m lost in the UK each year.
Please remember that if it sounds too good to be true, it probably is!
For more information on Share Fraud and how to protect yourself from boiler room scams, please visit the Financial Conduct Authority Website.
If you have been approached by those operating a share scam, please report the details to the FCA using the Share Fraud Reporting Form or call the FCA Consumer Helpline on 0800 111 6768.
If you have lost money to a share fraud, please contact Action Fraud on 0300 123 2040 or report the details using the Action Fraud Reporting Tool.