Average pension transfer values in May fell to £217,000, the lowest level seen since June 2016, as the number of transfers raising one or more warning flags rose to 83%.

The Financial Conduct Authority (FCA) has committed to upping its investment in using data to tackle online fraud faster.

More than half (53%) of High Net Worth individuals say they have been victims of a financial scam - a 10% rise in just six months.

A total of 488 people have so far completed a Pensions Safeguarding Guidance anti-scam interview since the new FCA pension transfer rules were introduced at the end of November.