How to avoid being scammed
By Kirsten Hastings, 1 Mar 17
The Financial Conduct Authority (FCA) has revealed the tactics used by investment fraudsters to deceive the over 55s, as it urges the demographic to check investment opportunities are genuine before parting with their money.
The warning comes as research commissioned by the UK regulator found that only two in five people think they know how to spot a scam.
Fraudsters are increasingly targeting the over 55s as the pensions freedoms introduced in April 2015 mean that they potentially have access to significant sums of money.
In 2016, victims of investment fraud lost an average of £32,000 ($39,774, €37,541) as scammers employed increasingly advanced psychological tactics to persuade victims to invest, the FCA said.
Click through to read about the most common tactics and how to avoid falling prey to them.
Tags: FCA | Fraud | Pension Freedoms | Scams
