OAP pension scam warning
Suspected firms who advertise and arrange pensions are offering investments in alternative commodities such as hotel developments or property in Cape Verde, and operate as unregulated collective investment schemes.
Often, the cold calling ‘pension companies’ involved are neither regulated nor qualified to give financial advice and classify themselves as a ‘trustee’, ‘consultant’ or an ‘independent advisor’ and offer exceptionally high return rates for investors.
Some victims have signed documents that authorises a limited company to be set up using their personal details, called a Small Self–Administered Scheme.
Call Action Fraud on 0300 123 2040.