All fraud articles – Page 8
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News
Industry calls for regulatory speed and stronger approach to scams
The pensions industry has voiced concerns over regulatory weaknesses and a lack of urgency when tackling scams and regulating defined benefit to defined contribution transfers.
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News
TPR suspends trustee after fraud investigation launched
On the go: The Pensions Regulator has suspended a pension scheme trustee after detectives launched a fraud investigation.
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OpinionCarillion's post-mortem
It is not unusual for Work and Pensions Committee chair Frank Field to show off an impressive vocabulary when launching a salvo against political and personal foes. But even by his standards, the imagery used to put to bed the failed outsourcer Carillion has taken a turn for the macabre.
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News
Blocking dodgy transfers could stop scams, say trustees
Only a restriction of the statutory right to transfer will end pension scams, the Pensions Regulator’s leading trustee company for appointments to irregular schemes has said, as it reported a marked increase in the number of cases dealt with in recent months.
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OpinionInaction on retirement defaults puts members at risk
From the blog: When discussing retirement pathways, the industry needs to ask itself two key questions: what is the goal of auto-enrolment, and what does success look like?
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News
Chatbots, GDPR and scams: Is admin in for a sea change?
Technological advances could mean pensions administration is about to become a lot sexier, but while cyber security evolves humans still need education if the industry is to protect pensions data and money.
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OpinionWhat could we expect from the regulators’ joint pension strategy?
The Pensions Regulator and the Financial Conduct Authority are currently consulting on their joint strategy for regulating the pensions and retirement income sector.
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OpinionWhat the EU’s money laundering directive means for schemes
From the blog: New money laundering regulations came into force in June 2017, implementing the EU’s Fourth Money Laundering Directive and replacing the Money Laundering Regulations 2007.
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News
Cold-call ban needs hefty fines to work, experts say
The government's decision to speed up its ban on cold calls and emails related to pensions must be supported by credible regulations and deterrent fines if consumers are to be protected, industry commentators have said.
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News
TPR investigates schemes suspected of cold-caller links
The Pensions Regulator and police have begun an investigation into several schemes suspected of links to cold-calling activities; the police has interviewed two people under caution and arrested a third before releasing him.
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News
Third of adults miss most obvious scams
Close to a third of adults missed the most obvious pension scams in a survey testing people's understanding of fraudsters' tricks, and 79 per cent said stricter rules and checks are needed to protect savers.
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News
DWP response on scams and guidance 'light on details'
The Department for Work and Pensions has said it will "continue to work swiftly" to bring in a cold-calling ban, but commentators have warned more needs to be done to protect vulnerable savers.
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News
Scammers ordered to pay back £13.7m
In a case against four people, the Pensions Regulator has for the first time obtained an order from the High Court to make the defendants repay the funds taken from their victims.
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OpinionThe year ahead for the Pensions Regulator
2017 was a significant year for the Pensions Regulator and the pensions sector, and we do not expect the pace to slow. In the coming months we will publish our annual corporate plan and budget for 2018-19. For now, here are our focus areas for the year ahead.
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News
Four priorities for McVey's DWP
The Department for Work and Pensions got its fifth boss in less than two years on Monday evening, with Theresa May’s Cabinet reshuffle replacing David Gauke with Esther McVey as secretary of state responsible for the department.
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OpinionThe heat is on for a cold-calling ban
From the blog: Frank Field’s call for action on cold-calling has reminded us of the fact that despite industry and government agreeing that savers need to be protected from scammers, precisely nothing has happened.
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OpinionA cold call ban is not the most effective scams measure
In August, the government's long-awaited response to last December's pension scams consultation came out.
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NewsGovt to ban cold calls before 2020, but questions remain
The government is aiming to introduce a cold-calling ban before 2020 and has opposed the idea of compulsory guidance, as the Work and Pensions Committee continues to probe officials as part of its wide-ranging inquiry into pensions freedoms.
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News
Select committee probes pension freedoms as concerns grow
The Work and Pensions Committee is launching a new inquiry into the pension freedom reforms, asking whether changes are required to better achieve the policy’s objectives.
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News
TPR campaign outlines governance basics
The Pensions Regulator has launched a new campaign directed at trustees and their advisers, as part of a wider push to raise governance standards, but experts say its success relies on collaboration and engagement from all stakeholders.