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'10% of Britons' fall for scams | '10% of Britons' fall for scams |
(about 3 hours later) | |
Almost 10% of adults - more than 4m people - in Britain say they have responded to a scam in their lives, the Office of Fair Trading (OFT) has said. | Almost 10% of adults - more than 4m people - in Britain say they have responded to a scam in their lives, the Office of Fair Trading (OFT) has said. |
Almost a half of those who did respond to a scam had lost more than £50, while 5% lost more than £5,000. | Almost a half of those who did respond to a scam had lost more than £50, while 5% lost more than £5,000. |
The OFT said 73% of adults had received a scam e-mail in the past year. | The OFT said 73% of adults had received a scam e-mail in the past year. |
Some 6,500 people are also receiving letters from the authorities warning them that their names are on a "sucker list" being circulated by fraudsters. | |
Advice | |
The OFT is launching a "scamnesty", calling on consumers to drop scam mailings into designated boxes at public places or into an online "bin". | |
OFT chief executive John Fingleton said: "Scammers are using ever more sophisticated and cunning tactics to dupe people out of their cash. | OFT chief executive John Fingleton said: "Scammers are using ever more sophisticated and cunning tactics to dupe people out of their cash. |
"We want people to recognise the warning signs, and feel confident enough to seek advice from friends or family or from Consumer Direct." | "We want people to recognise the warning signs, and feel confident enough to seek advice from friends or family or from Consumer Direct." |
Consumer Minister Kevin Brennan said the government had spent £7.5m to create "scambuster" teams across the UK. | Consumer Minister Kevin Brennan said the government had spent £7.5m to create "scambuster" teams across the UK. |
"We are determined to fight these crooks," he said. | "We are determined to fight these crooks," he said. |
The National Fraud Authority has estimated the cost of fraud - including scams, online theft, insurance cheats and tax fraud - at £30bn year in the UK, the equivalent of £621 per adult. | The National Fraud Authority has estimated the cost of fraud - including scams, online theft, insurance cheats and tax fraud - at £30bn year in the UK, the equivalent of £621 per adult. |
The OFT is giving the following advice to help avoid being scammed: | The OFT is giving the following advice to help avoid being scammed: |
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'Master list' | |
Meanwhile, a list of 10,000 names - including thousands with addresses and telephone numbers - which was being shared by fraudsters has been seized by the City of London Police and the Financial Services Authority (FSA). | |
The two authorities have now written to 6,500 people on the list to warn them that they could be targeted by fraudsters looking to sell worthless shares. | |
These so-called "boiler room" scams have cost UK victims an estimated £200m a year. The 734 people who contacted the FSA last year to report becoming victims lost an average of £24,000 each. | |
"We are all potential victims for fraudsters and need to be aware of the heartless way they operate," said Det Chief Supt Steve Head, of the City of London Police. | |
Boiler room fraudsters usually contact people by telephone and use high-pressure sales tactics to con investors into buying non-tradable, overpriced or even non-existent shares. | |
The businesses running the scams are unauthorised, overseas-based, with bogus UK addresses and phone lines routed abroad. Dealing with an unauthorised firm means victims do not have access to financial complaints and compensation schemes. |