Pensions - Articles - Pandemic providing perfect camouflage for scammers


The FCA has revealed today that 1.4 million adults have lost money to a Covid-19 scam. Canada Life research suggests that one in ten UK adults has been targeted or knows someone who has, by a coronavirus vaccination scam, for 18-34 year olds this rises to one in four.

 Andrew Tully, technical director at Canada Life responds to warnings about the rise of Covid-19 vaccination scams: “As we make great progress on vaccinations across the country it is sad to see that con artists will stop at nothing to make a quick buck. The pandemic has unfortunately provided a new opportunity for fraudsters to prey on vulnerabilities and fears. The problem is widespread, new research from Canada Life suggests that one in ten UK adults have already been fraudulently contacted, or knows someone who has been contacted, with the offer of a Covid-19 vaccine. Worryingly, this number rises to one in four of 18-34-year olds. Remember, we are very fortunate to have the amazing NHS which is free at the point of use and that includes administering the coronavirus vaccines.

 “We know that this move towards vaccination scams has not appeared from nowhere and that financial scams are unfortunately a prevalent scourge on our society. The pandemic has sadly provided perfect camouflage for the scammers to increase their activity as they prey on the elderly, vulnerable and financially stretched. The impact of scams is not just a financial hit, the hidden costs to mental health can be severe as victim’s ability to trust is shattered overnight. Despite the public message campaigns and the ban on cold-calling, the scammers are either simply ignoring the law or looking to sophisticated campaigns over social media in order to con people out of their savings. We all need to be on our guard and also look out for other family members. The rapid rise of romance scams and using the Track and Trace service only serves to show we all need to be vigilant, scam aware and follow the simple rule of thumb - if it appears too good to be true, it inevitably is. Simply walk away, hang up, or delete the email or text.”
 
  

Back to Index


Similar News to this Story

Pandemic demonstrates the value of retirement advice
Aegon and Next Wealth have launched a new report Managing Lifetime Wealth: retirement planning in the UK, which is a comprehensive guide to the key fa
DB Funding reform could now be in slow lane
A written statement to Parliament published last night (Tuesday 2nd) suggests that reform of the funding of Defined Benefit pension schemes could be o
Index shows defined benefit deficit wiped out in February
The aggregate funding deficit for the UK’s 5,000-plus corporate defined benefit (DB) pension schemes has been wiped out over the last month, PwC analy

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.