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Seven arrested in FSA operation against boiler rooms

Seven people have been arrested after the FSA, in co-operation with police, raided a number of premises in the South East of England as part of its investigation into boiler room scams.

The seven arrests comprise six males and one female, and span across Surrey, West Sussex, London and Hertfordshire.

The investigation, which is being conducted with assistance from Eurojust, Europol, the anti-money laundering unit of the Malta Police, and several European law enforcement agencies, focuses on share fraud and boiler room activity in the UK and Europe.

So far share fraud and boiler room activity in the UK and Europe has taken approximately £28m of victims’ funds.

As part of the operation the FSA has been working in close cooperation with the City of London Police Economic Crime Directorate and with assistance from Hertfordshire Constabulary Fraud Squad and the Crown Prosecution Service Fraud Prosecution Service.

The FSA is now urging consumers to hang up on any unsolicited cold calls from parties attempting to sell shares. For more information about share scams, including boiler rooms tips on how consumers can protect themselves and warning lists of firms the FSA know operate in this way see the Moneymadeclear website.


NatWest fails new test

A Which? investigation into NatWest’s MoneySense service has borne out Money Marketing’s findings that it is sometimes failing to deliver on its promise of impartial advice.

Whittaker stepping down at RBS

Royal Bank of Scotland finance director Guy Whittaker is to step down from his role and the RBS board.

Approval for ifs diploma to meet QCF standards

The ifs School of Finance says Ofqual has formally approved amendments to its level four diploma for financial advisers, designed to meet QCF level 4 requirements.

Singapore cover image - thumbnail

White paper — Singapore International Insights

Jelf Employee Benefits assesses key trends within the international private medical insurance provision of organisations with employees in Singapore. Benefit structure, cost management and healthcare facilities are examined and key considerations are highlighted. This edition will be of particular interest to global human resource directors and benefit managers with local and expatriate populations in Singapore.


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