As many as one in four people in the UK have been targeted by pension or investment scammers

29 Jun 2018

The results from a recent survey undertaken by the Financial Conduct Authority (FCA) has shown that as many as a quarter of all UK adults have received unsolicited approaches about pensions or investments in the last 12 months. An unsolicited approach is often a sign that the offer being made is nothing more than a scam which could result in the unfortunate victim losing their savings or becoming liable for significant additional tax charges.

The actual percentage of people contacted in this way varied from region to region. Those in London and the South East were most likely to have been approached. However even areas which reported the lowest figures, such as South Yorkshire and Eastern Scotland still showed that as many as 14% of individuals had received unsolicited emails, calls or letters.

In response to the continued increase in the activity of pension and investment scammers, Financial Fraud Action UK (FFA) in conjunction with HM Government launched a campaign called ‘Take Five – To Stop Fraud’. This is a national campaign offering straight-forward and impartial advice to help individuals protect themselves against financial fraud.  A website www.takefive-stopfraud.org.uk has been set up which contains useful tips, guidance, information and videos designed to help individuals stay safe.