FIGURES from United Kingdom’s national reporting centre for fraud and cyber crime, Action Fraud, reveal that £1.8 million has already been lost to pension fraud this year. Data shows a steady fall in pension scam reports from 1,788 in 2014 to 358 in 2020 – a reduction of almost 80 percent. However, there has been an increase in reporting so far this year, with 107 reports of pension fraud received in the first three months of 2021. This is an increase of almost 45 percent when compared to the same period in 2020.
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