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Wednesday, 19 May 2010

Fraudsters' target list revealed by regulator

The Financial Services Authority says it has found the biggest ever "suckers" list of potential targets for share fraudsters.

The regulator is writing to more than 38,000 people whose names, addresses and telephone numbers are on the list.

They are being warned that their details are still being passed around, so they could be contacted at any time.

The information is bought and sold by "boiler rooms", teams of bogus dealers who try to sell worthless shares.

These dealers are usually based in overseas offices.

Read the rest of the story by By Simon Gompertz, Reporter, Working Lunch on the BBC News wbsite site.


It has long been apparent that there is the names and contact details of people who have fallen for wine investment scams are passed around. It is not clear how organised this is: whether sales staff moving from one company to another and taking a contact list with them or whether there is a list for sale.

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