Regulators Warn Of Scammers Targeting Pension Withdrawals

Law360, London (November 8, 2019, 1:05 AM GMT) -- Victims of scammers risk losing an average of £82,000 ($105,000), the U.K.’s markets and pensions watchdogs said Friday as they reminded consumers of the risks that come with controversial reform to pension freedoms.

British financial regulators are warning of the risks posed by pension scammers. (AP) New analysis by the Financial Conduct Authority and The Pensions Regulator suggests that victims of fraud could lose an average of 22 years of their savings, or £82,000, within 24 hours of being targeted by crooks. Yet despite this, a survey of approximately 2,000 savers aged between 45 and 65 carried out by the regulators...

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