Many companies have become aware that their shareholders have received unsolicited telephone calls or correspondence concerning investment matters. These are typically from overseas ‘brokers’ who target UK shareholders. Two common approaches are;
- the caller is offering shares for sale, which often turn out to be worthless or high risk in US or UK investments;
- the individual is advised that there is an imminent offer from the company they hold shares in, and the caller is offering to buy their shares at a price significantly above the current market rate. This may involve the payment of an ‘administration fee', or transferring the shares to the caller company.
These operations are commonly known as ‘boiler rooms'. The ‘brokers' (callers) can be very persistent and extremely persuasive. They often have websites to support their activities their advice and the companies they purport to represent.
Report a scam
If you are approached by fraudsters please tell the FCA using the share fraud reporting form at www.fca.org.uk/scams where you can find out more about investment scams. You can also call the FCA Consumer Helpline on 0800 111 6768.
If you have already paid money to share fraudsters you should contact Action Fraud on 0300 123 2040.
You should also inform our registrars, Capita Asset Services, on 0871 664 0300