Police step up anti-scammer campaign

City of London and Metropolitan police have joined forces in a campaign to shut down investment scams, says the Financial Times. Alarmed by a rise in the use of prestigious City offices as a base by scammers, the City authorities have also joined in. Landlords are being targeted – they should investigate the bona fides of tenants and several have been fined for not doing so. Official data show that £1.7 billion was lost to fraud in 2014 but everyone agrees this is a substantial under-estimate. The proactive approach is clearly having some effect: when the police booked their own stand at an alternative investment exhibition, several exhibitors pulled out at the last minute. 

Our comment: There have been many fraudulent schemes investing in wine and diamonds and the whole alternative investment sector requires a high degree of scepticism.