http://www.fsa.gov.uk/pages/Library/...2006/053.shtml
People who fall victim to boiler room scams by purchasing virtually worthless shares lose an average of £20,000, the Financial Services Authority has found.
The survey found that boiler rooms tend to prey on older people. Of those who had fallen victim to boiler rooms, 38% were aged over 60 while 26% of victims were 51-60 years. The majority of victims were male (81%) and most were experienced investors with 41% of victims saying they had been investing for over 11 years. Most victims were from London or the South East. The South West and Wales had the least victims.
Could you be a potential victim?
Most likely to be male
Usually over 51 years old
An experienced investor
Spending on average £20,000
Once you've fallen for one boiler room there is a greater chance you will fall victim a second time
Is it a boiler room?
The firm will not be authorised by the FSA
Most likely to claim to be based in Spain, the US or Switzerland
It will call you out of the blue or a marketing firm will call on their behalf
Once you are on one boiler room's list you may be approached by other boiler rooms
They could pursue you for at least one month even if you don't invest
Anyone else here been called repeatedly by a saleman in "New York" with fast paced sales pitch to make "serious money" through "incredible investment potential"?
Evidently the thickos in the SE are losing £20K a pop, whilst the those in the West are too clever and tight to fall victim.
People who fall victim to boiler room scams by purchasing virtually worthless shares lose an average of £20,000, the Financial Services Authority has found.
The survey found that boiler rooms tend to prey on older people. Of those who had fallen victim to boiler rooms, 38% were aged over 60 while 26% of victims were 51-60 years. The majority of victims were male (81%) and most were experienced investors with 41% of victims saying they had been investing for over 11 years. Most victims were from London or the South East. The South West and Wales had the least victims.
Could you be a potential victim?
Most likely to be male
Usually over 51 years old
An experienced investor
Spending on average £20,000
Once you've fallen for one boiler room there is a greater chance you will fall victim a second time
Is it a boiler room?
The firm will not be authorised by the FSA
Most likely to claim to be based in Spain, the US or Switzerland
It will call you out of the blue or a marketing firm will call on their behalf
Once you are on one boiler room's list you may be approached by other boiler rooms
They could pursue you for at least one month even if you don't invest
Anyone else here been called repeatedly by a saleman in "New York" with fast paced sales pitch to make "serious money" through "incredible investment potential"?
Evidently the thickos in the SE are losing £20K a pop, whilst the those in the West are too clever and tight to fall victim.
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