TP ICAP warns of scammers abusing its name
Interdealer broker TP ICAP has published a warning about scammers abusing its name.
The company is aware of several attempted frauds by criminals cold calling individuals offering investment opportunities.
In their attempt to pass off as authentic, the fraudsters claim to be a TP ICAP or LCM broker, or a representative of TP ICAP or LCM. They then offer individuals a highly recognisable and ‘trustworthy’ investment opportunity. For example, a well-known Corporate Bond that pays a generous financial return. These attempts are fraudulent.
TP ICAP and LCM only serve wholesale clients – i.e., established financial firms. They do not serve individual (i.e. retail) customers.
TP ICAP says:
“If you do receive a call from a TP ICAP or LCM broker or representative and you are unsure of their identity, please end the call immediately and contact us by email”.
When fraudsters target individuals by email or telephone and pressure them to buy a product, invest their money, or share their personal details, this is often known as a boiler room scam.
The approach may be gentle, the caller may be very friendly and reassuring. Equally, they may take a more urgent tone, encouraging you to buy in quickly or else you could lose money or the opportunity. Please be vigilant of these warning signs, end the call immediately, or delete the email.