Fraudsters Target Investors In New Sophisticated Scams

Law360, London (July 15, 2020, 5:23 PM BST) -- Investment firms and clients have been hit by a fresh wave of schemes in which criminals set up complex bogus networks that have fleeced victims of millions in total, asset managers have warned.

The Investment Association, a trade body for investment managers, said in a report published Tuesday that the scams involve crooks impersonating investment firms' products, especially investment bonds.

Fraudsters promote such products through fake comparison websites and produce fake documentation. They target investors via ads on social media and gain access to personal details obtained from fake call centers, according to the IA warning.

Victims are led to believe...

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