A jury at Southwark Crown Court has today found guilty David Ames, 70, one of the key figures behind the £226m Harlequin Group fraud which conned thousands of investors including many SIPP users.
XPS Pensions Group has uncovered a surge in the number of ‘red flags’ being reported on pension transfers, indicating warning signs of scam activity, from 13% in June 2018 to 34% in June 2019.
The Pension Scams Industry Group (PSIG), the voluntary body set up to support trustees, providers and administrators in combating pension scams, has published the results of a new study.
Some victims of pension scams have lost more than £1m in savings each to fraudsters, new statistics have revealed.
The FCA has issued a warning about scammers running a clone of Bestinvest, the well known SIPP and direct investment firm run by Financial Planner and wealth manager Tilney.
About 500 clients lost £128million because of pension liberation firms that have been wound up.
A pension consultancy firm says it has found signs of potential scam activity in 11% of pension transfer requests.
The vast majority of consumers (88%) are missing common warning signs of a pensions scam including a growing trend by scammers to offer bogus “free financial advice”, the Citizens Advice Bureau has warned.
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