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

Just Group completes buyin for Welcome Break Pension Plan
Buy-in insures the benefits of all 348 members of the defined benefit section of the Scheme, sponsored by Welcome Break Group Ltd. Just Group has comp
GDP growth grinding to a halt as Budget uncertainty looms
Comment from Lindsay James, investment strategist at Quilter the latest UK GDP statistics: “After a positive first half of the year, UK economic growt
4 percent may be the neutral case for rates in the near term
Commenting ahead of the Bank of England’s Monetary Policy Committee (MPC) meeting on Thursday 18th September, Steve Matthews, Investment Director, Liq

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

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