FSA contacts more than 76,000 people to warn them about con men

The Financial Services Authority (FSA) is contacting more than 76,000 people to let them know they are targets for fraudsters. Their names appeared on a number of lists recovered from companies that the FSA believes were fraudulently selling investments in land or worthless, sometimes non-existent, shares. Letters from the regulator will be arriving on people's doormats from today. Most of the lists contain the names and addresses of the targets, but in 19,101 cases only email addresses are listed, therefore the FSA will be sending those people an email warning. The letter explains how to spot a scam, avoid becoming a victim and what to do if you have already invested. Jonathan Phelan, the FSA's head of unauthorised business, said:  "If you get a letter or email from the FSA over the next five or six weeks, please read it - it could you save you tens of thousands of pounds." April 27, 2012