Beware of share scams

If you invest in shares or have an interest in doing so, you need to be aware of recent advice from the Financial Conduct Authority (FCA).

The FCA has recently launched a campaign to draw attention to increasingly sophisticated investment scam tactics.

FCA has found that 47% of investors failed to identify a screen sharing scam. It reveals an increase of 86% in cases in one year, with 2,014 cases and over £25 million in losses.

FCA is calling on all investors to be ScamSmart and check the advice on their Scamsmart website and Warning List before making any investment decisions, as the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) will not cover damages from dealing with an unauthorised firm.

More information can be found at: https://www.fca.org.uk/news/press-releases/investors-miss-screen-sharing-scam-signs.