Share Fraud Warning

Share fraud includes scams where investors are called out of the blue and offered shares that often turn out to be worthless or non-existent, or an inflated price for shares they own. These calls come from fraudsters operating in 'boiler rooms' that are mostly based abroad.

While high profits are promised, those who buy or sell shares in this way usually lose their money.

Protect Yourself

If you are offered unsolicited investment advice, discounted shares, a premium price for shares you own, or free company or research reports, you should take these steps before handing over any money:

  1. Get the name of the person and organisation contacting you.
  2. Check the register of authorised persons maintained by the Financial Conduct Authority (FCA) at https://register.fca.org.uk/s/ to ensure they are authorised.
  3. Use the details on the FCA Register to contact the firm.
  4. Call the FCA Consumer Helpline on 0800 111 6768 (freephone), 0300 500 8082 from the UK or +44 207 066 1000 from outside the UK.
  5. Search the FCA's list of unauthorised firms and individuals to avoid doing business with.
  6. Remember: if it sounds too good to be true, it probably is!

If you use an unauthorised firm to buy or sell shares or other investments, you will not have access to the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.

Report a Scam

If you are approached about a share scam you should tell the FCA completing the FCA contact form at: https://www.fca.org.uk/contact#contact-form.

If you have already paid money to share fraudsters you should contact Action Fraud on 0300 123 2040.