New law to be introduced to help protect pension savers from scammers

Former_MSE_Sophie

New rules to help protect pension savers from scammers have today become law.

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New law to be introduced to help protect pension savers from scammers

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Albermarle

Maybe would have been better in the Pensions forum ?

eskbanker

Pensions are always an emotive topic, but interesting to see it quoted that "Between January and May 2021, pension scam losses totalling over £2.2 million were reported to Action Fraud".

Just to put that into some perspective, the UK Finance half-year fraud report states:

The H1 figures show that in the first half of 2021, losses due to unauthorised financial fraud using payment cards, remote banking and cheques rose seven per cent compared to H1 2021, to £398.6 million.

Meanwhile in the first half of 2021, a total of £355.3 million was lost to authorised push payment scams – an increase of 71 per cent compared to losses seen in the same period in 2020.

dunstonh

Albermarle said:

Maybe would have been better in the Pensions forum ?

Probably couldn't find it after the changeover.