General Insurance Article - Joint Fraud Taskforce: Aegon's Kate Smith comments

 “We’re all too aware of the untold misery and hardship financial fraud causes, but it’s vital that we continue to spread the word so people are aware of possible threats and remain vigilant. There has been a significant increase in fraudulent activity since the new pension freedom reforms came in, but according to our recent research a quarter of the UK remain unaware of the potential threat.

 “Nearly one in five (19%) of the general public in the UK have received a cold call offering a free pension review or pension investment opportunity. Even more worryingly, one in six (15%) have received an offer suggesting they can access their pension pot before 55.

 “The announcement of a new Joint Fraud Taskforce is welcome, but we shouldn’t lose sight of the fact that fraud isn’t just limited to bank accounts; fraudsters are also targeting people’s hard-earned pensions.

 “As we know fraudsters are often very sophisticated and their tactics continue to evolve. That said if people remain on their guard and follow the simple steps they can avoid falling foul of fraudsters. It’s always worth bearing in mind if an investment opportunity seems too good to be true, it probably is.”