Second-hand annuities: Fraud and money laundering pose real risk

Fraudsters don't stick to just one scam

clock

Fraudsters follow the money, writes Mike Crowe. Here, he outlines why fraud and money laundering pose a very real threat to the second-hand annuity market...

Sometimes you get asked a question and the knee-jerk reaction is to dismiss it out of hand as just a wee bit daft. (My wife says she treats everything I ask in that way.) But with a bit more thought the penny drops and the question actually has some depth to it. That's the process my brain went through when I was asked the question: "So when the second-hand annuity market comes along won't that offer new opportunities for fraudsters and money launderers?" You see I had fallen into the trap of thinking pension fraudsters were all about pension liberation and unregulated investment o...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Reeves to consider £2bn raid on tax-free pension lump sum

Reeves to consider £2bn raid on tax-free pension lump sum

Telegraph reports PCLS cut could help plug £50bn public finances hole

Jonathan Stapleton
clock 21 August 2025 • 3 min read
State pension age review: Govt launches call for evidence

State pension age review: Govt launches call for evidence

UK faces long-term demographic pressures

Jenna Brown
clock 18 August 2025 • 2 min read
'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

After PensionBee calls for a legally enforceable transfer guarantee

Sahar Nazir
clock 18 August 2025 • 2 min read