Investors in the United Kingdom are more likely to report illegal garbage dumping, or a spill in the grocery store, than they are to report possible investment fraud, according to research published Wednesday by the U.K. Financial Conduct Authority (FCA).
The FCA research found that although 84% of over 55s survey say they would report a supermarket spill, and 81% would call in illegal dumping, less than two-thirds (63%) are likely to report suspected investment fraud.
In response to the research findings, the FCA is calling on investors to report suspected investment scams, which enables regulators to protect other consumers from being victimized.
“By reporting suspicious investment schemes to the FCA, people are having a direct impact in helping to stop fraudsters exploiting others. But there is still more we can all do and we need the public’s help,” says Mark Steward, director of enforcement at the FCA.
“We are encouraging people to speak out on behalf of their family or local community, just like they would report a crime in their local area,” he adds.