Wednesday 24 May 2017

Plausible scams call for greater caution

'The Irish Stock Exchange in its warnings has revived that old maxim:
'The Irish Stock Exchange in its warnings has revived that old maxim: "If it sounds too good to be true, it probably is". Stock photo: Reuters
Editorial

Editorial

Some scam merchants never rest. They work on the age-old maxim that there are no old wheezes - just so many new dupes to be taken for a ride. When it comes to confidence tricksters, one can never be too careful, and nothing short of total vigilance suffices.

Today, this newspaper brings details of a current so-called "boiler-room scam" which is targeting better-off people who have shares in companies which are performing well. Classically, the would-be victim receives an unsolicited call from a person posing as a potential seller or buyer of these stocks.

A great deal is offered by the smooth-talker. But time is of the essence, so a swift decision is required.

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