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Fake investment broker continue to hit Swedish investors

Sunday, 26 February 2012
Swedish FSA (Finansinspektionen - FI) warning list of scam companies that engage in so-called investment fraud grew last year at a record pace. And nothing suggests that such activities will decrease in the coming months.

The uncertainty in the market makes it that investors continue to seek risk-free and short term returns investments. This has led them to play into the hands of sophisticated scammers who have understood properly the way of thinking of the Swedish investors.

So far this year about 90 companies have been added to the list and at least a dozen have approached consumers in Sweden.
“It is extremely unfortunate that this is so prevalent, and that it is a crime that seems to be increasing,” says FI manager Martin Anderson.

Investment Fraudsters contact usually their victims by phone and offer lucrative investments such as in shares. They operate mostly from abroad in countries that Sweden would find it hard to access and investigate those involved in such fake deals.

This is why Martin Andersson is now saying that there are the needs to do more to curb investment fraud. First, it is important that warnings of scam companies should reach out to investors and consumer as well as ordinary people who lack proper knowledge of these types of companies

“In the end, you have to do what we can to get more consumers to be cautious,” he says.
By Team

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