FSA Alerted to Scam Telephone Calls Offering to Buy Alliance Trust Shares

Jack Humphrey, Regulatory journalist
January 06, 2012 /

The Financial Services Authority has been alerted to a scam involving telephone calls from individuals that offer to buy the shares of Alliance Trust investors at a price twice that of the market value.

“Calls offering payment well in excess of the price of our shares on the London stockmarket are almost invariably scams designed to extract cash or details of your investments that they would use to your detriment,” Alliance Trust said in a statement.

“We do not recommend that you comply with this type of request. We advise that prior to buying or selling shares you should contact your stockbroker or financial adviser.”

Alliance Trust said an organisation behind this scam had targeted a number of investors who have shares in their own name, rather than through a nominee account.

Its tactic involves requesting the shareholder to pay money or send a copy of the share certificate to confirm their interest in the deal.

 

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