Shareholder warning

Database provides fraudsters with valuable information

Businesses have been warned that criminals have a list of over 11,000 UK shareholders to whom they are trying to sell over-priced or non-existent shares.

The Financial Services Industry (FSA) has written to the individuals on the list, which includes personal data such as full names, addresses and telephone numbers, to warn them over the scam.

“The details on the database provide fraudsters with valuable information that can be used to convince people that they are dealing with legitimate stockbrokers,” said Jonathan Phelan, head of retail enforcement at the FSA.
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