Buying shares? Watch out for boiler-room fraud!

Written by:
Leo Hoogma, 31 May 2023

Have you received a nice offer to purchase shares or financial products, but are you still unsure? Perhaps you have been approached by a boiler room fraudster and it is your "gut feeling" that says: watch out!

It all seems fine and good: You are offered a financial product or shares by an intermediary who looks professional. Because they`ll take care of that. Things like _bckgr_ information and website also seem to be in order. And the best thing is of course: There is a great chance of winning. At least, that's what the service intermediary says. And then things go wrong.

What is boiler room fraud?

In reality, you have been sold fictitious products or worthless shares, and you will soon find yourself under great pressure, similar to that in a boiler room. Your "financial advisor" will increasingly urge you to buy even more (worthless) products, with the promise that you will make a lot of profit. But that doesn't happen, at least not more than once. You sink deeper and deeper into the red, and if you decide not to invest anymore, the scammers play a new card.

Specialized "Boiler room fraud" lawyer wants to help you? Keep your wits about you!

You`ve reached a point where you don't want to pay anymore because you realize you`re being scammed. Now part 2 of the fraudsters` plan comes into effect. Because supposedly help is on the way! You are approached by a lawyer who indicates that the fraud has been discovered and that they are doing everything they can to get your money back. All you have to do is pay an advance to ensure that the lawyer can do his or her job.

We can't stress this enough, but don't fall for it! This ingenious "lawyer" is in cahoots with the boiler room fraudsters. This way of extorting (extra) money is called Recovery room fraud". It is a callous trick that leaves you as an entrepreneur even more destitute. You will not be the first to go into debt in the hope that you will get your money back. will get.

Hoogma Webdesign offers you healthy advice
Have you received an offer about which you have doubts? We do this to ensure that scammers don't stand a chance and have already warned in the past about:

• Aggressive ad sales video advertising
• Fake download links Windows 11
• Fake emails from the Chamber of Commerce in circulation
• Ghost invoices for domain name registration & domain name fraud
• Phishing mails
• Whaling mails (targeting "the big fish")
• Give clickjackers no chance with HWCMS
• Prevent that your emails end up in the spam box

Contact us without obligation if you are an entrepreneur and have a question for our internet specialists.

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