FSA chairs international anti-fraud conference

The conference, which is being held today (Monday 10 November) and tomorrow at Merchant Taylors' Hall in London, is expected to include representation from up to 20 countries, including the US Securities and Exchange Commission and the Spanish and German regulators. Typically, victims of boiler room scams are 'groomed' over weeks or months by fraudsters who call them regularly, eventually persuading them to buy worthless shares. The FSA sees the problem as a global one - boiler rooms are based overseas, often in Spain, Hong Kong or North America. However, their victims tend to be in the U...