Alliance Trust Alert FSA Over Scam Telephone Calls

Alliance Trust has announced that they have alerted the Financial Service Authority about a series of scam telephone calls that their shareholders have received in which the caller offers to purchase their shares at double the market value. The company has warned of an organisation calling investors and claiming to be interested in purchasing shares for the company. It appears to be targeting investors who hold shares in their own name, rather than through a nominee account. The caller then requests the shareholder to pay money or send a copy of the share certificate to confirm their interest in the deal. Alliance Trust commented "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. "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."
  • Alan Dick
    Posted at 14:44h, 09 January Reply

    We had a similar situation last month where scammers called a client claiming to be acting for someone mounting a takeover of Ladbrokes. They told my client that he had Ladbrokes shares and they were prepared to pay above over the odds to ensure the takeover was successful. They had presumably obtained this information from a publicly available share register but it must have been well out of date. My client had sold his shares about 5 years ago so he phoned us immediately suspecting that there was something dodgy about the call.

    Fortunately, he didn’t give them anything but it is easy to see how simply it would be for fraudsters to pull this kind of scam off.

    NEVER EVER EVER deal with a company you do not know over the phone. Also, take a look at the scams section of the FSA website for more information on some of the most common scams.

    • Eileen Murphy
      Posted at 18:06h, 08 May Reply

      Hi Alan
      Many thanks for your great advice.

      Best regards

      Eileen Murphy

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