COULD YOU SPOT A SCAMMER?
According to the Financial Conduct Authority, 42% of UK pension savers could be at risk of falling for a pension scam.
Scammers continue to get more advanced with their techniques, often using emotive language and digital trickers that can catch anyone off guard. They may:
- Exploit your trust in authority figures – it’s human nature to trust authority figures, and scammers take advantage of this by calling themselves a regulated financial adviser or a member of the Plan administrator team. You can make sure you’re speaking with a Financial Conduct Authority-authorised individual using the Financial Services Register, and remember, the Plan administrator will never ‘cold call’ or ‘cold text’.
- Create a sense of urgency – scammers often try to rush you into making a decision before you’ve had time to think. The Plan administrator will never pressure or rush you to making a decision.
- Take advantage of weak first line of defence – if you don’t have a personal email address saved on your account, the Plan administrator won’t have a quick and secure way of notifying you of updates to your account.
If you receive a call out of the blue, take a moment to:
PAUSE
If someone contacts you demanding you act immediately regarding your pension, consider if you would trust a stranger on the street asking you the same thing.
QUESTION
Did they contact you unexpectedly? Ask yourself why there’s an urgency to provide personal details.
PROTECT
Cut all contact for now – it’s better to be safe than sorry. If you think you’ve been scammed, contact Action Fraud immediately.