{"id":551,"date":"2022-05-12T17:19:16","date_gmt":"2022-05-12T09:19:16","guid":{"rendered":"https:\/\/seniorclic.hk\/?p=551"},"modified":"2022-09-15T16:40:15","modified_gmt":"2022-09-15T08:40:15","slug":"boiler-room-fraud","status":"publish","type":"post","link":"https:\/\/seniorclic.hk\/en\/topics\/smart-elderly\/common-con-tricks\/boiler-room-fraud\/","title":{"rendered":"Boiler Room Fraud"},"content":{"rendered":"

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Boiler Room Fraud is a fraudulent scheme whereby offenders representing as salespersons or brokers are hired to call up unsuspecting individuals to push investment opportunities. Cold calls and high-pressure tactics are often used to enforce sales of worthless or non-existent securities, usually to pensioners.<\/p>\n

Typically boiler room agents are well trained salesperson and all the information they pass on to customers would be scripted. In recent years, they make good use of the Internet and decorate their business with fanciful websites. Investors would receive their monthly investment statements through e-mail and rarely come face-to-face with the brokers. Similarly, investment monies would be transferred electronically often trespassing country borders. After some time when all investment frenzy subside, victims will find all they are left with are some junk stocks or worthless papers.<\/p>\n

Advice<\/h2>\n
    \n
  • Be vigilant of unsolicited phone calls or e-correspondences concerning investment matters;<\/li>\n
  • Examine relevant website to verify if a firm\u2019s credentials are legitimate;<\/li>\n
  • Seek expert advice from professionals;<\/li>\n
  • Do not join any investment unless you thoroughly understand it;<\/li>\n
  • Do not transfer money into an overseas bank account unless with a full valid reason; and<\/li>\n
  • If in doubt, contact or refer the case to the police immediately.<\/li>\n<\/ul>\n

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    Boiler Room Fraud is a fraudulent scheme whereby offenders representing as salespersons or brokers are hired to call up unsuspecting individuals to push investment opportunities. Cold calls and high-pressure tactics are often used to enforce sales of worthless or non-existent securities, usually to pensioners.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false},"categories":[42],"tags":[],"yoast_head":"\nBoiler Room Fraud - Senior CLIC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seniorclic.hk\/en\/topics\/smart-elderly\/common-con-tricks\/boiler-room-fraud\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boiler Room Fraud - Senior CLIC\" \/>\n<meta property=\"og:description\" content=\"Boiler Room Fraud is a fraudulent scheme whereby offenders representing as salespersons or brokers are hired to call up unsuspecting individuals to push investment opportunities. 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