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Couple Scammed Out Of £2m Pension

Couple scammed out of £2m Pension

We have written a number of articles about how more and more people are being scammed out of their hard earned wealth. In the news today is the very distressing story of two more victims of an elaborate pension scam, which has cost them more than £1m each.

The victims, whose identities are being protected by the authorities, lost their savings over the two years to June 2018.

New data released by police reporting centre Action Fraud, has shown that victims across the UK lost £91,000 on average in 2017 through this type of scams. This is thought to be just the tip of the iceberg, with many more victims too embarrassed or ashamed to report their losses to the authorities.

A ban on cold-calling about pensions came into force earlier this month. But will it stop these career criminals who have made a vast living from other peoples wealth?

Read our blog on how to become more aware of scammers and their techniques to defraud you with help from the Financial Conduct Authority

The full article about the latest scam can be seen at BBC News