FSA warns investors over new “sucker''s list”

A "sucker''s list" of investors'' personal details has been passed on to the Financial Services Authority (FSA), the regulator has said.

Canadian authorities initially discovered the list, which conmen have compiled from those buying shares from non-FSA regulated "boiler rooms".

The list is likely to have been sold on to other teams of fraudsters.

Around 11,000 people''s details are thought to be contained on the illegal database – and have now been contacted by the FSA to alert them of the situation.

Jonathan Phelan, head of retail enforcement at the FSA, said: "This is a great example of how international co-operation can help protect people from falling victim to share fraud.

"The details on the database provide fraudsters with valuable information that can be used to convince people that they are dealing with legitimate stockbrokers, in order to win their trust."

According to the FSA, investors should always check that their share brokers are registered with the regulator in order to avoid being put on a "sucker''s list".