FCA warns about carbon credit ‘boiler room’ scams

The FCA (formerly the FSA) have warned investors about the rise in boiler room scam companies offering investments in carbon credits

The news follows the Financial Services Authority (FSA) securing its first market abuse injunction after issuing a £1m fine over boiler room scam.

Liam Parker, spokesperson for the FCA, said: “Boiler room fraudsters often sound like the real deal so it’s easy to be drawn in by their professional and high pressure sales tactics.

“In reality however, the shares are worthless or don’t exist and the money is lost forever. You should be very wary if you receive a call out of the blue offering you carbon credits.”