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Boiler room share fraud warning

The Financial Services Authority (FSA) is contacting thousands of people to warn them they could become victims of share fraud, after it recovered its biggest ever ‘master list’ used by boiler room fraudsters.


The list contains the names, addresses and telephone numbers of 49,387 people and includes potential victims who the FSA believes may have been contacted out of the blue and offered worthless shares.

The FSA is writing to every person on the list to alert them to their presence on it and to advise them how to avoid getting scammed. Anybody who thinks they may have been targeted by a boiler room scam should call the FSA’s customer contact centre on 0845 606 1234.

People can avoid becoming victims of share fraud by:

  • Hanging up the telephone if they receive an out of the blue call offering them shares;
  • Checking the FSA Register to see if the person selling shares is authorised to do so;
  • Calling the company back using the details on the FSA Register to verify their identity;
  • Make additional checks to confirm that you are dealing with an authorised or registered firm and have the correct contact details, such as checking on the firm’s website, with directory enquiries or Companies House; and
  • Reporting any company that cold calls them to sell shares to the FSA or the Police.

For more information about this warning, visit the FSA website.

Make sure you are not a victim of this scam by following the FSA’s top tips.

Please note: Action Fraud is not responsible for the content on external websites.

To report a fraud, call Action Fraud on 0300 123 2040 or use our online fraud reporting tool.

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