Cold callers face £500,000 fines in fraud crackdown

ANYONE cold calling to sell financial products will face fines of up to £500,000 under tough new plans.

- Michael Knowles

The Home Office has launched a crackdown on fraudsters trying to con people out of life savings with the outright ban.

Officials said this will mean anyone "receiving a cold call offering these types of products will know that it is a scam" and can slam the phone down.

Callers offering sham crypto currency schemes, mortgage products and insurances could all be fined.