TRADING standards officers in Bury are backing Government warnings about investment scams costing UK citizens £350 million a year.

Hundreds of thousands of people have been targeted with offers to invest money in art, wine, jewellery, worthless shares and property for development.

Angela Lomax, principal trading standards officer, said: "Unsolicited approaches are often accompanied by exaggerated claims about the likely returns, but goods can often turn out to have little or no real investment potential or may be sold at such an inflated price that a loss is almost guaranteed.

"People everywhere and from all kinds of backgrounds have been caught out and the Government's new advice will ring true for some people in Bury who may have been caught out. We cannot say enough that if something appears to be too good to be true then it usually is."

People are urged to beware unsolicited approaches offering investment advice, take independent professional advice before deciding on an investment, and not sign up to anything immediately. They should also check a company's credentials, be wary of offers that claim to produce a guaranteed risk-free or exceptional return, and never give bank details to anyone whose credentials they have not checked.

More information is available on the DTI's website on www.dti.gov.uk