Bogus shares: the rise of boiler room fraud
Boiler room fraud - known also as ‘share scams’ - targets both novice and experienced investors, and is increasingly taking on different forms.
In a recent publication the Fraud Advisory Panel outlines the warning signs and how to report fraud of this type.
According to the Serious Fraud Office, boiler room fraud is:
“The cold calling of victims by fake stockbrokers persuading them to buy stocks or bonds that are worthless or non-existent.”