Treasury committee seeks answers from tech giants on investment scams
‘It’s clear that fraud is rapidly rising and ruining people’s lives’
Scams
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FCA warns a quarter of UK adults have low financial resilience due to Covid
Financial Lives survey shows number of at risk Brits has shot up 15% since the start of the pandemic
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Fraudsters use Covid crisis to dupe retail investors out of £10m
Investment Association reports the number of incidents involving clone firms has quadrupled
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Family crime groups wreaking havoc with pension scams
Criminal investigations involving regulators, government agencies and police forces are ongoing
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Pension boiler room scam shuttered by UK court
A company which ran 15 pension schemes that duped savers and allowed “unsavoury” advisers to pocket £4m in commissions has been declared insolvent.
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Fraudsters target Invesco clients in ‘sophisticated’ scams
Invesco Perpetual has issued a stark warning online after discovering its clients are being targeted by ‘sophisticated’ fraudsters in telephone calls and emails.
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How the right message on cold calling could put scammers out of business
The cold calling ban gives the pension, investment and advice industry a huge opportunity to put the scammers out of business by denying them a market says Red Circle Financial Planning director Darren Cooke.
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FSCS warns over plague of scams
The UK’s Financial Services Compensation Scheme (FSCS) is the latest body to warn consumers that scammers are using its reputation in a bid to defraud them.
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TV pension scam campaign would cost £2m a year
A carefully-targeted pension scam public awareness campaign including television advertising would cost in the region of £2m annually, a financial services advertising expert has said.
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PA ANALYSIS: Why the government needs to act quickly on cold calling
While welcoming Monday’s government decision to resurrect a ban on pension cold calling, many industry figures have expressed concerns on how long it will take to implement.
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Government revives pensions cold calling crackdown
The government has revived plans for a ban on pension cold calling with a promise of new legislation after the original plan was dropped owing to the snap general election.
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FCA bans six for UK property scheme scam
Six of the eight men found guilty last year of a UK property fund scam, which defrauded investors of around £4.3m ($5.24m, €4.78m), have been banned by the Financial Conduct Authority (FCA) from performing any function in relation to any regulated activity in the industry.
