The suspected fraudster is believed to have been working as what is known as a ‘closer’ who followed up introduction calls made by cold-callers and finalising deals.
With the advent of new freedom and choice laws relating to pensions, our fears have been confirmed that sophisticated scammers were ready to take advantage of unsuspecting consumers.
A recent report produced by the Citizens Advice Bureau found that people aged 65 and over are more than twice as likely to be targeted by fraudsters as the average CAB Client that has come to the organisation to report a fraud or scam.
The report identifies five key types of pension scam which include moving savings from your savings to a new pension, fake investment opportunities or offering free “advice” or service.
The idea of free “advice” is in itself flawed and should be cause for alarm. Any person, legitimate or not, offering advice is definitely not doing so for free. Their payment will likely come from the provider of the investment or “opportunity” the investor puts money into. This places the person giving the advice in a situation where by it may be more lucrative for them to put you in one product over another simply because the commission or fee for making the introduction is better. This ultimately means the onus can shift from doing what is right for the investor to doing what is best financially for the person giving the advice.
Scammers will often apply undue pressure to secure any transaction, if you feel as though you are being under pressure to make a decision regarding your pension, or you believe you are being targeted by Pension scammers please do get in touch.
Investor Protectors can provide Extended Due Diligence on any company that is offering you a service. If you are tempted, before you proceed, talk to us, it may very well be the best thing you do.
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Investor Protectors successfully help another investor reclaim money from an Investment that would have seen them lose more than 60%, if not nearer 90% of their capital.
We cannot always help everyone, each situation is different, however if we can we will tell you. If you have a problem with an investment and don’t know where to turn, look no further, click here to get in touch.
As planning laws are relaxed some investors are selling out of their
land plots. The AI-EX offers a fantastic platform for Investors to meet and speak with other Investors in the same situation. Listing could help you sell your land. Find out more.
China’s top regulator has ruled that more than half of the 54 mitigation projects that recently sought to register for carbon credits are ineligible, it said on Friday, amid worries that a glut of permits is undermining its pilot carbon markets.
April 1st saw The AIE promoted to a wider audience. We are eagerly processing all the data that is coming in and are excited to see the pace at which the exchange is growing.