Pension scam report shines light on quality of advisers

27,000 transfers looked at

Hannah Godfrey
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“Paper checks alone will not be able to pick up every scam" - XPS Pension Group's Sankar Mahalingham
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“Paper checks alone will not be able to pick up every scam" - XPS Pension Group's Sankar Mahalingham

Financial advisers and/or unregulated introducers have had some involvement in half of suspected pension scams, a report by the Pension Scams Industry Group (PSIG) has claimed.

The report found around half (52%) of red flags raised by due diligence on suspected scam pension transfers involved an unregulated introducer, an adviser in a different country from the scheme member,...

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