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Boiler room fraud is a particular form of investment fraud in which social engineering techniques are applied to lure potential victims by telephone, email, fax, or any other communication means, and to convince them through high pressure sales tactics to purchase ‘penny stock’ shares that are being traded on OTC platforms. Different commodities can be offered for sale as well.

Investors are told that huge profits can be realized while in truth the focus of the boiler room is to defraud and swindle those who purchase these shares and/or commodities. Practice shows that it is predominantly the elderly who fall victim to boiler room swindles.

This book (226 pages) describes:

  • how internationally organized boiler rooms function;
  • and how their operations may be detected based on certain ‘red flags’;
  • recommendations to (inter)national law enforcement agencies to step up cooperation among their domestic and foreign counterparts in this battle against boiler room fraud;
  • several examples of successful and not so successful actions against boiler room swindlers;
  • since malicious FOREX and binary options firms approach prospective clients from ‘call centers’, a description of this phenomena has also been included.

For whom this book is intended

Investment brokers, Oversight agencies, Government employees, Police and Asset recovery specialists, Attorneys, Prosecutors, legal professionals and law enforcement personnel, Detectives and private investigators, Prevention and security professionals.

This book is especially intended for consumers, (potential) investors and victims of boiler room scams.