Regulator warns on carbon credit 'fraudsters'

Carbon credits are the latest asset class being targeted by financial services fraudsters, the Daily Telegraph has reported.

The paper said it had obtained figures from the Financial Services Authority (FSA) which revealed an 'explosion' in companies offering fraudulent deals in carbon credits - transferable certificates that allow companies to pollute. The report said more than 100 companies have been reported to the watchdog over the past year. This was up from just six before June last year. The watchdog has already released a list of 21 unauthorised firms in the area. It warned some of the firms "knowingly run scams". The Telegraph said many of the firms are run by people who used to operate boiler...