Be Scam Aware - Invitation to buy shares.

Central

Bedfordshire

Scam Aware

Central Bedfordshire Council’s Trading Standards team is warning consumers to be aware of a possible scam involving an invitation to buy shares.

We have had a report from a concerned consumer in Leighton Buzzard who was cold-called by telephone, and whereby the caller claimed to be representing a portfolio management company and was offering the consumer the opportunity to buy extra shares in a specific Company of which the consumer was already a shareholder. The caller claimed the reason for the offer was that the Company in question had not paid any dividends. The consumer became suspicious of the call as they had already recently received a dividend payment from that particular Company.

Based on the information provided we believe that this call has all the hallmarks of a scam and we would advise anyone to act with extreme caution when receiving such calls. The caller subject to this particular scam would appear to already have obtained certain information (i.e. personal contact information, current shareholdings, etc.) and so at first may appear to be genuine, however in reality, they could be using this information in an attempt to extract money from consumers.

Our advice to consumers is that a legitimate company would never cold-call you by telephone. Never give your details to anybody over the telephone unless you are absolutely certain of their intentions. Never be intimidated into making a quick decision, due to limited availability for example, and never make a payment or provide your bank account details over the telephone. Always take a moment to ask yourself whether the offer sounds genuine and if, at any point, you have any doubts about the offer being made, do not be afraid to hang up the telephone.

If you have any information about suspect rogue traders or would like to report a possible scam please initially contact Consumer Direct on 08454 04 05 06, in order so that all relevant regulatory authorities can be notified.

In the meantime, please visit our website www.centralbedfordshire.gov.uk/bescamaware for advice and guidance on how to spot a scam and how to avoid becoming a victim.

Trading Standards

(Community Safety and Public Protection)

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Central Bedfordshire Council Priory House, Monks Walk, Chicksands, Shefford, Bedfordshire, SG17 5TQ

Telephone: 0300 300 8136 Email: trading.standards@centralbedfordshire.gov.uk

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