Police warn of pension scams after victims in Nottinghamshire lost thousands in savings

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Scammers continue to target victims’ pensions across Nottinghamshire and agents have backed a new Action Fraud campaign to ‘Protect Your Pension’ to help raise awareness of the scams.

Figures from the National Fraud and Cybercrime Reporting Center show that £ 1.8million has already been lost due to pension fraud this year.

Data from Action Fraud had previously shown a steady decline in pension scam reports from 1,788 in 2014 to 358 in 2020, but there has been an increase in reports so far this year, with 107 reports of fraud. in terms of pensions received during the first three months of 2021. – an increase of almost 45% compared to the same period in 2020.

Fraudsters target pensions
Fraudsters target pensions

Laura Murdock, Nottinghamshire Police Fraud and Cyber ​​Protection Officer, said: “Pension scams are devastating for victims and their families.

“Frauds like this targeting the elderly or the vulnerable are horrible – especially when you meet the victims in person and can see how the loss of life changing money affects people.

“Savers need to be careful when making decisions about money that may have taken a lifetime to build because it can be taken out in an instant.

“Learning the signs of a scam can help prevent savers from becoming a victim in the first place.

“Before making decisions about their pension, savers should visit the Pensions Advisory Service website for unbiased advice or financial advice from a financial advisor licensed by the Financial Conduct Authority.

“If you are contacted out of the blue about your pension, stop and think.

“Our advice would be to hang up immediately or, if you receive any emails, texts or social media messages about the fraud, just ignore them.

“You should always consider seeking professional financial advice before changing your pension arrangements and don’t feel rushed or pressured into making a decision.” People who have lost money to a scam should call Nottinghamshire Police on 101 so officers can keep evidence as quickly. as possible. “

If you believe you have been a victim of retirement fraud, contact your provident fund immediately and report it to Action Fraud online at actionfraud.police.uk or by calling 0300 123 2040.

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