UK-based APJ Solicitors is opening a Europe division to target what it describes as rogue companies targeting Brits.
The mis-selling litigation firm’s cases predominately involve mis-sold or fraudulent self-invested personal pensions (Sipp).
It has two offices in the UK and has taken on 6,500 cases in the past 12 months.
The law firm said: “Thousands of Brits have been caught out by scammers, unscrupulous advisers or unregulated companies, who have invested their money for them in either risky, unsuitable or fraudulent schemes.”
Qrops
Anthony Wilson, managing director for APJ, said: “Expanding our business to take on Qrops is an important next step for us, and for the clients that we represent.
“Every day, hard working Brits lose large amounts of their pension pots to risky, mis-sold or even fraudulent schemes.”
The countries at the top of its list are Gibraltar, Malta and the Czech Republic.
“It’s crucial that we put boots on the ground in these countries to be able to lobby the respective regulators and judicial systems in order to clarify the positions and bring any unscrupulous companies to task.”
Avoiding the cold-calling ban
Wilson continued: “Cold calling is the main tactic used by these firms to contact pension holders. This practice was banned in the UK at the start of the year; and, as such, we have welcomed a decline in the number of people who have fallen victim to these criminals.
“Unfortunately, companies based overseas are exempt from this ban, and also argue that they fall outside of GDPR jurisdiction.
“Because of this, people are still being targeted and talking into investing their pension pits into risky or scam schemes by European-based firms.
“We want to put a strop to these practices, and also represent people that have been caught out to try and get their money back where possible.”
