FRAUDSTERS ARE targeting retail shareholders in Irish plcs in a bid to get their bank account details and possibly other personal financial information.

A number of private individuals with shares in Irish-listed companies have been contacted recently by people purporting to represent organisations interested in buying the companies involved.

The calls are unsolicited and are not made by anyone connected with the companies whose shareholders are targeted.

The callers’ general approach has been to tell shareholders that a deal involving the company is imminent and that they are likely to be offered a substantial sum for their shares.

Once they have opened dialogue, they use the “deal” as a front to ask for bank account details, often by requesting such things as a contribution to start-up legal costs.

They generally put pressure on the people they contact to get the information that they are seeking.

According to Ivan Murphy of Davy Corporate Finance, part of Dublin stockbroking firm, Davy, the callers generally say they represent a fictional consultancy or financial firm.

He added that such cons are the latest version of various ruses used to get personal bank details and are common in Britain, where they also target individual shareholders rather than institutions.

Shareholders in pharmaceutical services group United Drug and fruit distributor Total Produce have received the calls, while members of other plcs may also have received the calls. It is understood the fraudsters have mainly targeted people in the Dublin area.

United Drug recently took out an adverstisement in national newspapers warning shareholders about the fraud. Its outgoing chairman, Ronnie Kells, repeated the warning to shareholders at the group’s agm in Dublin yesterday.

Mr Murphy said that anyone who receives the calls should not give out any information. He advised that they should inform the companies’ registrars if an unsolicited approach is made. “Always get independent advice first,” Mr Murphy added.

United Drug’s ad gave similar warnings and also advised that anyone who receives the calls should check to see if the organisation is authorised to act as an investment firm or financial intermediary by the Central Bank.

The bank regularly publishes a list of unauthorised firms that have attempted to do business in the Republic.