Boiler room (business)
Type of call center / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Boiler room (business)?
Summarize this article for a 10 year old
SHOW ALL QUESTIONS
This article is about the con trick. For the facility within most business buildings, see Mechanical room. For other uses, see Boiler room.
In business, the term boiler room refers to an outbound call center selling questionable investments by telephone. It usually refers to a room where salespeople work using unfair, dishonest sales tactics, sometimes selling penny stocks or private placements or committing outright stock fraud. A common boiler room tactic is the use of falsified and bolstered information in combination with verified company-released information.[1] The term is pejorative: it is often used to imply high-pressure sales tactics and, sometimes, poor working conditions.[citation needed]
This article includes a list of general references, but it lacks sufficient corresponding inline citations. (January 2014) |