Scams
Investors lose twice as recovery room scams shut down
A number of investors in the UK have lost out twice after six companies were shut down by the High Court for scamming more than £350,000 ($496,000, €456,000) after promising to help them recover investment losses.
Hong Kong regulator shuts suspected boiler rooms
Hong Kong’s Securities and Futures Commission (SFC) has frozen a total of HK$600,000 ($77,000, £54,000) in the bank accounts of three suspected boiler rooms.
Australian regulator cracks down on land bank schemes
Australia’s main financial regulator is seeking to wind up two land banking schemes as part a crackdown on the real estate investment vehicles.
Retirement | 13 Jul 15
Majority of QROPS transfer requests are a scam, warns Aegon
Aegon has warned that 80% of the requests it has received for transfers into qualifying recognised overseas pension schemes (QROPS) are designed to swindle savers out of their pension pots.
United Kingdom | 26 May 15
PFS calls for crackdown on ‘worrying’ unregulated activity
The Personal Finance Society has demanded stricter controls on non-regulated savings and investments to prevent “scammers” from taking advantage of UK consumers.