The regulator further said it had noticed that the UK’s pension freedoms, introduced in 2015 and other changes since then, meant that consumers were now at greater risk of being targeted by a range of different scams.
“We will undertake the next phase of our ScamSmart campaign to reduce both pension scams and the number of consumers falling victim to them,” it said.
The FCA said it was looking at ways it can work with Government, other regulators and consumer organisations to create effective messages to help consumers understand fraudsters’ techniques.
“We will also consider if legislative or rule changes are needed to close any loopholes that scammers currently exploit and to further deter fraudsters,” it said.
