With the growing popularity of Internet share-dealing services, the Net is becoming a major tool to promote various investment opportunities. And in line with all investment decisions, potential investors should exercise great caution before pledging their money.

Lawyers in Britain have warned investors to be on guard for financial fraud on the Internet, following a spate of instances in the US.

London-based lawyers, Reynolds Porter Chamberlain, said British savings could be at risk after fraud charges were filed against 44 US individuals and companies. These cases concerned "share promoting" whereby misleading and fraudulent information on various companies was distributed on the Internet to boost share prices.

While share promoting is nothing new, lawyers fear that modern technology will result in this illegal practice becoming more widespread as information now can be spread cheaply, quickly and anonymously to thousands of people.