FSA contacts 38,000 investors on share scam 'master list'

The FSA has sent out written warnings to 38,000 investors whose details were discovered on a 'master list' used by boiler room fraudsters.

The list contains the names and addresses of 38,242 people the regulator believes to be used by boiler rooms operating in the UK and abroad. People on the list, the FSA believes, could be contacted by fraudsters and offered worthless shares. Targets are largely based in London and the South East, with significant numbers also present in Yorkshire and Lancashire. The FSA is writing to every person on the list alerting them to the potential danger and urging them not to take up these "once in a lifetime chances or investment opportunities". Victims of fraudsters will not have recours...