According to the Financial Conduct Authority (FCA), the fraudsters are using the information, such as dates of birth or National Insurance numbers, to give the impression to former clients of the West Midland based advisory firm that their communication is genuine.
Active Wealth was the advisory group which used the promise of sausage dinners to tempt the workers to transfer out of their British Steel defined benefit schemes.
The fraudsters now offer to assist these workers help in claiming compensation for their mis-sold pensions and investments.
The FCA said: “We have been made aware that a third party may have provided information about former clients of Active Wealth to another entity. While we are investigating this, we want to ensure that consumers are aware of the issue in case they are contacted.
“The fraudsters may tell you some of your personal information, such as your date of birth or National Insurance Number, to give the impression that the communication is genuine. You may also be told you are entitled to a sum of money, and that the FCA needs your bank account details to make the payment.
“The FCA will never contact members of the public asking for money or bank account details.”
Active Wealth is in liquidation but remains authorised, having met standards in dealing with customers.