£197m lost in a year to scammers; FCA issues new warning

Holly Roach
clock • 2 min read

The Financial Conduct Authority (FCA) has warned the public to be vigilant of investment scams as Action Fraud reveals more than £197m was lost to scams in 2018.

Victims were scammed out of over £29,000 each on average last year, based on 6,759 reports, as scammers use increasingly sophisticated tactics to persuade savers to invest and subsequently lose, fo...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

PPI: The opportunity for joint working to improve retirement outcomes

PPI: The opportunity for joint working to improve retirement outcomes

Mariana Garcia Requejo says greater alignment will be integral to creating a coherent decumulation market

Mariana Garcia Requejo
clock 20 May 2025 • 4 min read
How TPR is using regulatory intervention reports

How TPR is using regulatory intervention reports

Chris Edwards-Earl takes a look at the RIR for the MGN Pension Scheme

Chris Edwards-Earl
clock 16 May 2025 • 3 min read
Government launches LGPS consultation proposing reforms to improve fairness

Government launches LGPS consultation proposing reforms to improve fairness

Government says reforms will bring ‘fairness’ and ‘equality’ to workers in the LGPS

Martin Richmond
clock 15 May 2025 • 6 min read
Trustpilot