Share scams are often run from ‘boiler rooms’ where fraudsters cold-call investors offering them worthless, overpriced or even non-existent shares. While they promise high returns, those who invest usually end up losing their money.
You may also receive a call from someone offering to buy your shares in Bellway p.l.c., or other companies in which you are a shareholder, usually at a higher price than their market value. This might sound like a great deal, but will likely come with a request for money up front as a bond or other form of security, which the scammers say they will pay back if the sale does not go ahead. This is probably an advance fee scam – where you pay money but never hear from them again.
Find out how the scams work and what to do to avoid becoming a victim by reading this FCA leaflet.