By Tom Fish (August 3, 2022, 7:17 PM BST) -- The Pensions Regulator will improve intelligence sharing between service providers and regulators in a bid to stay a step ahead of scammers, the British agency announced Wednesday.
A scam-fighting plan published by the agency includes a new strategy in the battle to bring fraudsters and other criminals to justice.
Scamming is a lucrative crime, with attempts to persuade pensioners to shift savings or release funds. The Financial Conduct Authority estimates that criminals illicitly earned almost £500,000 ($410,000) per month last year.
And the outlook for the elderly is forecast to worsen, with the Pensions Regulator saying that inflationary increases can potentially...
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