44% of pension transfer amber flags raised for ‘unknown’ reasons
Money and Pensions Service does ‘not appear to be proactively improving the data they are collecting’
Scams
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Regulator sets out three-pronged approach to fight pension scams
It expects industry to think of ‘innovative ways to protect savers now and in the future’
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Harlequin boss found guilty in £226m property investment fraud case
Several thousand victims lost pensions and life savings
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£13.7m boiler room fraudsters jailed
They persuaded 800 victims to invest in a fund involved in the buying and selling of properties
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£22m pension fraud duo jailed
275 victims lost most or all their retirement savings
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FCA turns to tech in fight against scams
It allows the regulator to scan 100,000 websites every day
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Green investment scam duo jailed for 11 years
Victims were unable to retire and suffered ‘prolonged distress and mental anguish’
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Unsuitable international Sipps top concern for pensions regulator
Overseas financial advisers increasingly targeting savers via social media
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Over 40 million Brits targeted by scammers in six months
HMRC impersonation and fake ‘get rich quick’ investment schemes among most common
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Conman jailed over bid to defraud pensioner out of £67,000
Victim was trying to recoup £4m he had invested in a wealth management scam
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22% of Brits contacted by pension scammers in last 3 months
As a third say they don’t know how to stop fraudsters targeting them
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Fraudsters put high net worths top of their hitlists
73% with assets of £3m or more admitted they had been victim to a scam