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Warning over parking space pension scam

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Fraudsters are targeting savers with an investment scam involving parking spaces close to airports, the National Fraud Intelligence Bureau warns.

The bureau says consumers are receiving unsolicited calls from “forceful” sales people promoting the parking spaces as a “sound pension investment”.

Consumers are promised a guaranteed high rate of return. A buy-back scheme is also offered but the NFIB says there is no guarantee of an onward sale.

It adds the sales method is very similar to that used by businesses selling unregulated investments including diamonds, wine and carbon credits.

The bureau says investors may receive an initial dividend, but this is likely to be a Ponzi scheme.

Hargreaves Lansdown head of retirement policy Tom McPhail says: “The lure of large sums of newly accessible pension money is inevitably attracting unscrupulous fraudsters out to make a quick buck at someone else’s expense.

“Policymakers should look at developing a kitemark or logo for regulated businesses and investments to help potential victims identify a possible scam.”

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