Only 6.6% Of Suspected Pension Scams Are Passed To Police

Law360, London (September 14, 2020, 9:48 PM BST) -- Only a small fraction of suspected pension scams in the U.K. are reported to the police, a financial advice company said Monday, warning that the government should crack down on fraudsters operating online. 

Quilter said 394 pension fraud reports were submitted last year to Action Fraud, the financial crimes reporting service. But just 26 cases were given to police forces to investigate — 6.6% of the total.

The numbers come from a freedom of information request submitted by Quilter. The adviser urged the government to make it easier to prosecute pension scammers.

"The fact that it is so hard to investigate...

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