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Tuesday, 13 April 2010

Met Police Fraud Alert site

The Metropolitan Police has a Fraud Alert site that highlights their Sterling initiative:

'Sterling is the Metropolitan Police initiative to tackle Economic Crime throughout London. By working together with individuals and organisations, from all levels of the private and public sectors, Sterling aims to make London safer from all types of Economic Crime. Innovative new techniques are being developed to prevent, disrupt, and prosecute fraud related offences.'

Also on the site is a recent advice about high yield investments:

'The MPS would give the following advice to anyone offered high yield investment opportunities in products that are not tangible:

Beware anyone cold calling offering investment opportunities

Before deciding to invest in a particular product check with an established company or other suitably qualified person for advice. (For example if you are investing in wine contact a reputable wine merchant.)

Be prepared to make extensive enquiries into the source of the product to establish its credibility as an investment.

If a high return is promised it should be viewed with suspicion particularly in the current economic climate.

If the investment is one where the product will be kept for you either elsewhere in the world or in the UK you should always be able to request to see the product at any time.

If it sounds to good to be true it probably is.'

Interesting that they highlight wine contracts.

Ties in with the advice given at the time of the further Nouveau World Wine arrests:

Detective Chief Inspector Robin Cross, head of the Fraud Squad, said: "This kind of investment fraud is becoming far too common. People from all economic backgrounds are being targeted and persuaded to invest in what appears to be a sound financial opportunity.

"We would advise those considering investing money, whether it be a small or large amount, to do their research and be sure that the companies or individuals they are dealing with are reputable and legitimate."

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