One thought on “Cold-calling ban questioned as gov’t plans ‘swifter’ launch”

  • So, these criminals who are hard selling investments which don’t exist will be put off by making it mildly illegal to contact people in the first place will they? I rather doubt it.

    I know proportionality is a tricky thing to deliver, but somehow the FCA just has to have a division which is linked with the National Crime Agency, and then take this stuff seriously at source, rock up without notice, with guns, in a very scary way. That might put off some of the more ‘sales led’ white collar crime, and will reduce the incidence because at least they can intervene before too much damage is done. Currently Justice grinds too damn slowly, and these scammers ignore the ‘polite notice’ that the FCA sends suggesting they may be acting outwith authorisation. Treating criminals in the same way you treat authorised entities is not a winning strategy.

    If they are not authorised they are criminals – therefore can be treated without the niceties which are appropriate for dealing with legitimate businesses.

    Take a leaf out of the playbook used by the Customs and Excise enforcement arm of HMRC, or better still the anti-terror bits of the Metropolitan Police.

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