Investment - Articles - Aegon comment on FCA report on investment scams

Kate Smith, Head of Pensions at Aegon, on figures released this morning from the FCA that over £27 million was reported lost to crypto and forex investment scams in the last financial year.

 “It is disappointing to see investment scams continuing to rise with reports of money lost to crypto and forex investment scams tripling over the last financial year. This should serve as a warning that fraudsters are still very much at large and using ever inventive ways to scam people out of their money.

 “The FCA are doing some good work to actively raise awareness in this area and help individuals steer clear of bogus investments. However, much more is needed to be done to simply keep up as scammers are becoming increasingly sophisticated in their techniques through advancing digital technologies to lure potential investors.

 “The pensions cold calling ban was a step in the right direction to protect consumers’ pensions but won’t help in the wider battle to tackle fraudsters as they move onto softer targets. The government needs to work alongside the regulators to stem the tide of fraud and help keep the threat of scammers in the spotlight.”

Back to Index

Similar News to this Story

DB pensions adopting cashflow driven investment strategies
Almost three-quarters of UK defined benefit pension schemes could be adopting a cashflow driven investment strategy within 12 months, a survey of trus
Neil Woodford and illiquid assets
Celene Lee, Principal and Senior Investment Consultant at pensions and employee benefits consulting firm, Buck, comments:
Legal and General in largest UK bulk annuity for Rolls Royce
Legal and General Assurance Society Limited (“Legal & General”) today announces that it has entered into another record breaking bulk annuity transact

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS


Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.