WEEKLY FRAUD UPDATE FROM WEST MERCIA POLICE - ECONOMIC CRIME UNIT - 26/08/2025"

PENSION FRAUD

Fraudsters will use many avenues to defraud potential victims and one of these is to promise high returns with low risks with Pension Schemes. Thus, pension savers may be left with nothing, having lost all their life savings.

So, stay vigilant and protect any pensions and investments from fraudsters trying to trick people out of their lifetime savings, as millions of pounds are lost each year with these scams

How can you protect yourself?

Unsolicited communication about your pension: If you get a call out of the blue (a cold call) about your pension, the safest thing to do is hang up. It’s illegal and probably a fraudster. If you get offers via email or text, you should simply ignore them.

Seek advice first: if you’re thinking about changing your pension arrangements, you should get financial advice beforehand. If you want to find an adviser, make sure they’re authorised by the Financial Conduct Authority. Never take advice from the company that contacted you, this may be part of the scam.

Investment opportunities: do not be rushed into making an investment.   Remember, legitimate organisations will never pressure you into investing on the spot.

You should treat investment opportunities with extreme caution if there is:

Be mindful of tax implications: you could pay tax on payments from your pension provider if they make an ‘unauthorised payment’, especially if you release cash before your 55 years old.

If you have been a victim then report it: if you’re worried about a potential scam, or you think you may have been contacted by a fraudster, report it to Action Fraud online at actionfraud.police.uk or by calling 0300 123 2040

Please feel free to share these messages with any vulnerable friends, relatives, or neighbours.

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If you have fallen for fraud

Report it to Action Fraud on 0300 123 2040 or via actionfraud.police.uk

Scam Text messages can be forwarded to 7726 to help phone providers take prompt action and block numbers that generate spam on their networks.

You can also report fraudulent mobile calls by texting 7726 with the word “Call” followed by the fraudster’s phone number.

Forward Fake Emails received to report@phishing.gov.uk

If you think your bank account or personal banking details have been used fraudulently, then use the short phone number - 159 - to contact the Fraud Prevention Department of most major UK banks.