Five million at risk of pension scam, UK Regulator warns
The pension pots of five million savers are at risk from crooks, new research reveals.
Figures from the Pensions Regulator and the Financial Conduct Authority showed 42% of working Brits aged 45-65 would fall for at least one scam tactic that’s already out there.
And even the cleverest savers are at risk thanks to “blind spots” exploited by criminals. Psychologist Honey Langcaster-James explained: “Most people are confident in their ability to avoid being scammed. We tend to assume that it would never happen to us because we think we’d notice something if it wasn’t right.
“But even the smartest and savviest among us can become victims of crimes and we do often have a ‘blind spot’. Sophisticated scammers take advantage of this and use powerful psychological techniques to build trust and rapport and ultimately to influence our behaviour.”
The stakes are high, too, with victims of reported pension scams losing an average of £82,000 each last year.
Read more @Mirror
