Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Simon Read: Check their credentials before you hand over cash

Wednesday 15 June 2011 00:00 BST
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Boiler-room scams have been around for decades, yet tricksters – often based overseas – still catch people out by persuading them to hand over tens or thousands or pounds for worthless shares. The carrot is always "a once-in-a-lifetime opportunity" or "get in now before the news is out". But the claims are always false and the only opportunity is for the fraudsters to fleece you.

The simple way to avoid becoming a victim is to ignore speculative emails or unsolicited phone calls. However, if you are tempted to invest with someone who contacts you, check them out before handing over cash. If they're not on the Financial Services Authority's Register then they're not authorised to sell you shares. That means if you deal with them, you'll have no recourse if things go wrong. Check the register at www.fsa.gov.uk/register.

Some crooks claim to be from a well-known firm that is on the register, but you can verify that by calling them back using the details on the register. Don't call them back using a number they've given you, because it could be anywhere. And if you are targeted, report the incident to the police and to the FSA on 0845 606 1234.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in