The UK's Financial Services Authority has warned that criminals are cloning genuine company Web sites in order to sell worthless shares.

"Calling for vigilance and urging the public to report any suspicions, the FSA noted that awareness of share scams was now so high that conmen had been forced to come up with new tactics," writes IT PRO's Kirstin Ridley.

"'Sadly, however, this also means there is a renewed risk to investors,' said Jonathan Phelan, head of the FSA's unauthorized business department," Ridley writes.

Click here to read the IT PRO article.