Scams – you must be kidding

31st August 2011

Of course, being the FSA, they are over-complicating and giving too much information, so their advice has a "ten point plan", writes Mindful Money's resident psychologist Kim Stephenson.

That's actually too many points – human beings don't react well to that amount of information, despite the biblical precedent (how many of the 10 commandments can you remember?)

Also they are talking about £200 million a year in "boiler room scams", when, according to the Office of Fair Trading (2006), 3.2 million adults in the UK fall victim to mass marketed scams every year, and collectively lose £3.5 billion.

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