According to the Financial Services Authority (FSA) there are 270 unauthorised overseas broking firms involved in boiler room activities. That’s 270 reasons to be wary if you receive a phone call out of the blue promising you sure-fire ways to make money.
According to the FSA, it is still unclear how boiler rooms actually identify their potential victims. Sometimes they may use business directories that list the names of key personnel within an organisation. On other occasions, boiler rooms may use publicly available registers of shareholders to peddle their worthless and over-inflated shares….
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