The PFS has called for a “wider united campaign to protect the public from the scourge of scammers.”

XPS Pensions Group has uncovered a surge in the number of ‘red flags’ being reported on pension transfers, indicating warning signs of scam activity, from 13% in June 2018 to 34% in June 2019.

A fraudster has been jailed for seven years for conning elderly and vulnerable victims out of nearly £3m in a ‘boiler room’ fraud operation which promoted bogus corporate bond investments.

A group of fraudsters were jailed for a combined 17 years and nine months today for their part in an elaborate wine investment scam which conned nearly £1m out of investors, many of which were elderly and vulnerable.