Scams
Best Practice | 3 May 22
What investment scams should expats look out for?
Many are ‘well researched and structured’
Spain-based cold calling scammers jailed for 11 years
They tricked more than 200 people into transferring their retirement pots worth £13.7m
70% of pension transfer requests spark scam warning
Current cost of living crisis ‘could lead to members looking to access their benefits’
DB transfer red flags trigger 500 member interviews
But it is not yet clear if measures ‘are genuinely protecting consumers’
UK to tackle ‘epidemic’ of paid-for scam adverts
Proposals include harsher penalties for social media influencers