Watchdog Investigating £55M Of Suspected Pension Scams

Law360, London (February 11, 2021, 1:06 PM GMT) -- Britain's pensions watchdog has said it is investigating suspected con-artists who could have duped victims into handing over £55 million ($76 million) of their long-term savings, as it vowed to crack down on retirement fraud.

Nicola Parish, executive director of frontline regulation at The Pensions Regulator, said on Wednesday that the watchdog is investigating 38 individuals responsible for 52 separate scams.

Reports of fraud are on the rise as crooks take advantage of employees with financial worries amid the coronavirus pandemic, persuading them to put their savings into dodgy investment plans.

"We are going to do everything we can to stop these pension...

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