New research shows two in five pension savers would fall for a common scam tactic and those who consider themselves financially savvy are as likely to be duped as anyone else. Cold-calls, exotic investments and early access to cash are among the most persuasive tactics used by fraudsters.
The results are from a quiz run by the Financial Conduct Authority (FCA) and The Pensions Regulator as part of their ScamSmart campaign to warn the public about fraudsters targeting people’s retirement savings.
For the survey more than 2,000 savers aged 45-65 were presented with the following six ploys that fraudsters often use on unsuspecting victims:
The regulators recommend four simple steps to protect yourself from pension scams:
For more information and to take the ScamSmart quiz yourself visit www.fca.org.uk/scamsmart
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