The Insolvency Service has issued a warning to investors and its customers regarding a recent increase in fraudulent activity, including recovery room scams, and fraudsters impersonating genuine Insolvency Service employees, in the form of emails, phone calls and letters.
Recovery room scams usually follow an investment scam, where victims have already lost money. Victims are cold called by fraudsters who pretend to be from a different company. High pressure tactics are then used to obtain upfront charges/fees, described as, for example, tax, solicitor fees and administrative fees. This can result in losses that can be greater than the initial investment loss.
To legitimise their contact, recovery room fraudsters will send fake le…
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