FCA: Pension savers claim over £30 million lost to scams
Industry News | 25/08/20
A total of £30,857,329 has been reportedly lost to pension scammers since 2017 according to complaints filed with Action Fraud, says the Financial Conduct Authority and The Pensions Regulator.
Scammers targeted pension pots big and small, with reported losses ranging from under £1,000 to as much as £500,000 and the average victim being a man in his 50s. But the true number of victims is likely to be much higher as savers fail to spot the signs of a scam and don’t know how much is in their pots.