From medieval conmen persuading people to hand over hard cash for worthless ‘holy relics’, to Charles Ponzi promising amazing returns on the back of earlier victims’ money, fraudsters have always been with us and probably always will be. While this is all too true, we can make life a lot tougher for fraudsters – but we need to move rather faster than we have done to date. Continue reading “Pension scams: not quite there yet”
This blog post was contributed by Phil Mawhinney, Policy Officer, at Age UK
You probably know someone who found love through a dating website – perhaps you did yourself. But you may also have seen cases of people who thought they had met someone special online, only to lose thousands of pounds through fraud. You might think that this is a rare crime and, really, people should know better.
When John transferred the money, he thought he’d got a great deal. In the current market, deciding what to do with his pension lump sum hadn’t been easy, but this investment opportunity had come just at the right time and the promised returns looked great. It was only when his building society contacted him that he had second thoughts…