The Pensions Regulator has warned that rogue pension websites are carrying anti-scam messages to try and trick consumers into thinking they are legitimate businesses.
A number of suspected scam websites have been referred to TPR under the suspicion they are being portrayed as legitimate investment vehicles. Some of the sites are also featuring the anti-scam material from pension scam taskforce “Project Bloom” without TPR’s consent.
Other sites are implying that they are regulated by displaying warnings about scams.
TPR chief executive Lesley Titcomb says: “These sites are wolves in sheep’s clothing, lying in wait for unsuspecting victims by portraying themselves as being beyond reproach.
She adds: “The truth is that this next generation of scam sites poses a real threat to people’s financial futures and should be avoided.”
TPR can demand that such websites immediately stop using material TPR owns and will investigate with other agencies whether further action, such as legal proceedings, should start.
Last month the Government confirmed measures to protect savers from pension scams, including a ban on pensions cold-calling, which will now include emails and text messages.
Titcomb adds: ““We welcome the Government’s tough new measures, which will strike a significant blow to pension scammers who devastate people’s lives by duping them out of their life savings.”