Some pension fraudsters are using genuine anti-scam messages on their websites to try to make their sites look authentic. This is a very cynical ploy.
Recent pension freedom reforms have allowed over-55s to access their retirement savings pots and this has made them a target for scammers.
Fraud experts say that a combination of new rules, investors looking for returns and pensioners withdrawing large sums of cash have created a potentially fertile hunting ground for scammers.
Pension scammers simply copy official scam alerts onto their websites to dupe savers into thinking they are dealing with legitimate businesses, warned the Pensions regulator.
“Scammers are always developing new ways to try to get their hands on people’s pensions so everyone needs to be on the look-out for potential traps.”
Phrases Pension Fraudsters Commonly Use:
- The offer won’t last long
- You’re entitled to a free government review
- There’s a guaranteed 7 per cent return
- We’ll send a courier over with your documents
- There’s a legal loophole
- You’re a sophisticated investor
- It’s free
- Your pension company might try to talk you out of it – they just want to keep your money
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