THE Financial Services Authority has warned UK investors not to play "Russian roulette" with their savings by dealing with unauthorised firms.

The renewed warning from the FSA has been prompted by a surge in the number of inquiries and complaints that it has received about unauthorised overseas firms that have targeted UK-based investors in the past 12 months.

The watchdog is particularly concerned about the risk consumers run when they deal with firms that appear to be based in London but are actually abroad and which have contacted them via an unsolicited telephone call or mailshot.

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