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Losses to pension fraud so far in 2021 reach £1.8m
There has been a reporting increase of almost 45% compared to 2020
Action Fraud has revealed £1.8m has already been lost this year to pension fraud, as it warns savers to be vigilant and protect their pensions.
The national fraud and cybercrime reporting centre revealed there has been an increase in reporting so far this year compared to previous years, with 107 reports of pension fraud received in the first three months of 2021.
This is an increase of almost 45% when compared to the same period in 2020.
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Until this year, data from Action Fraud showed a steady fall in pension scam reports from 1,788 in 2014 to 358 in 2020 - a reduction of almost 80%.
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