All fraud articles – Page 10
-
NewsPensions Regulator: Cyber security should be key on risk registers
Trustee boards should be assessing their risk of cyber attack and taking steps to protect member data and scheme assets, the chief executive of the Pensions Regulator has said.
-
News
Uptick in scams prompts call for tighter regulation
A recent increase in reports of suspected pension scams has been called “the tip of the iceberg”, as experts said tighter legislation would help schemes ensure their members do not lose hard-earned retirement savings.
-
Opinion
Change in law is needed to stop scammers, experts say
Scam activity could be present in as much as 11 per cent of pension transfer requests, consultancy Xafinity has found. Trustees and lawyers say legal constraints prevent them from protecting individuals.
-
OpinionScams: What trustees can do to avoid members becoming victims
Trustees are, in fact, indirect victims of scams, so action to protect members is more often than not action that also helps themselves.
-
OpinionOur priorities and approach – an update from the Pensions Regulator
Our recently published corporate plan identifies 10 priorities for the period up to 2019. It outlines how we will retain a flexible approach, allowing us to adapt to a changing pensions landscape and help ensure savers receive the retirement income they expect.
-
OpinionBuchanan: Government should close legal gaps to stop scammers
When I started out in pensions in the early 1990s, there were clear demarcation lines between ‘occupational pension schemes’, established on a paternalistic, non-profit basis by employers, and ‘personal pension plans’ operated by authorised providers for commercial gain.
-
News
High Court ruling ramps up fears over pension liberation
The High Court has ruled against insurer Royal London for blocking a pension transfer where it suspected the receiving fund could be a pensions liberation scheme, prompting industry observers to raise concerns about protections for members, providers and trustees.
-
News
Pension freedom report: Must do better
A clearer definition of advice and stronger warnings about scams were two of the points raised in the Work and Pensions Committee’s report on pension freedom this week, which has found support across the industry.
-
Opinion
Pension savers lack confidence on scams
From the blog: Two in every five people are not confident they could tell the difference between a scam and a genuine investment.
-
Opinion
Are you protecting members – and trustees – from liberation scammers?
Any Other Business: The threat to members from pensions liberation was pressing even before the introduction of greater freedom and choice. Now, there are many more ways to trick members into legally parting with their money.
-
Opinion
A scheme guide to pension liberation
Many trustees will currently be dealing with transfer requests from members where they suspect the receiving scheme is involved with pension liberation.
-
News
Scams burden remains in spite of HMRC registration
News analysis: A High Court ruling last week established the Pensions Regulator’s authority to take action against schemes it believes to be fraudulent.
-
Opinion
Why clarity is needed over pensions liberation
In common with other periods of economic decline or instability, there is growing evidence of a rise in pension liberation fraud and the systematic targeting of vulnerable members.
-
Opinion
Editorial: Put fraud firmly in the shade
As the mercury rose last week, attention on pension fraudsters also hotted up as the regulator brought a liberation case to the High Court.
-
News
Regulator: liberation fraud more sophisticated threat
News analysis: Pension liberation fraud has become more sophisticated, according to the Pensions Regulator, which is now targeting specific liberation models in a bid to slow down the pace of fraudulent activity.
-
News
SPC: Pot-follows-member a 'breeding ground' for fraud
The government’s pot-follows-member proposals threaten to “overstretch” the industry and expose members to greater risk of pension liberation fraud, if introduced at the peak of auto-enrolment in 2014, the Society of Pension Consultants has warned.
-
FeaturesRailpen warns members of early-release scams
The Railways Pension Scheme has drawn its members' attention to the potential danger in early-release pension offers, which accounted for £200m taken out of pension funds last year.
-
Features
IBM fraud scare shows value of data safeguards
The IBM scheme has warned its members about hoax phone calls, underlining the importance of administration and data cleansing to minimise the risk of fraud.