KCOM customers urged to be aware of ‘boiler room’ share scam

People are being urged to be wary of cold calling scammers who are targeting KCOM shareholders.

We've been made aware of a spate of scam calls being made in recent days to shareholders in the Hull and East Yorkshire area.

Typically, the scammer claims to be from an investment firm offering to pay an inflated price way above market value for the shareholder’s KCOM shares. Firstly, though, the caller asks the shareholder to provide information such as email address or banking details.

This type of fraud is called a “boiler room” scam and aims to convince people to part with sensitive financial information or even send share certificates.

Cathy Phillips, KCOM Chief Marketing Officer, urged KCOM customers to be extra vigilant when receiving unexpected calls and to be alert for fraudsters when online.

She said: “We have recently seen a spate of scam callers offering to buy KCOM shares at inflated prices. Anyone ringing and offering an inflated price for your shares is a potential scammer. If a deal seems too good to be true then it almost certainly is.

“The best way for people to protect themselves is to treat any requests for bank details or indeed any personal information, with extreme caution. If you are ever suspicious about a call, we recommend you hang up immediately.

“If you want to sell your shares then we recommend that you do so through a recognised, authorised broker.”

If you receive a potential scam call or suspicious email, please report it to Action Fraud, the UK's national fraud and cyber crime reporting centre by calling 0330 123 2040 or by visiting www.actionfraud.police.uk