Scams
Just 6% of pension transfers not flagged as scams
With overseas investments continuing to be the most common warning
De facto director banned over gold trading investment scheme
Victims were promised annual returns between 15% and 22%
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’
Best Practice | 4 Aug 22
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’
Harlequin boss found guilty in £226m property investment fraud case
Several thousand victims lost pensions and life savings