In this first podcast of the series, Margaret Snowdon, Chair of the Pension Scams Industry Group and Nicola Parish, Executive Director of Frontline Regulation join us to discuss the threat of pension scams.
In the podcast, Margaret and Nicola explain:
- That the pensions industry should, and can, do more to fight scams, including signing up to PSIG and TPR’s Pledge to Combat Pension Scams and increase reporting of suspected scams.
- Why there are so many different figures around pensions scams and how that makes combating them more difficult.
- Why pension scams can have a more significant impact on victims than investment scams.
- What lessons can be learned from banking and why the pension industry needs to get more innovative in tackling scammers.
- Their support for plans by Pensions Minister to write to pensions firms to ask why they are not sharing data.
- The possibility of putting PSIG’s Combating Pension Scams – A Code of Good Practice on a statutory footing and how the code is set to be simplified and condensed.
- How putting the scam-fighting multiagency group Project Bloom on a statutory footing with dedicated funding would help in the fight against fraudsters
- Why scammers should quit before it’s too late.