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Pension scam victims say regulators should have saved them from losing life savings

Pension scam victims say regulators should have saved them from losing life savings The threat of pension fraud has hit record highs during the pandemic 4 February 2021 • 6:00am The Pensions Regulator has been accused of failing to protect vulnerable savers from being swindled out of millions, after a high-profile investigation opened the gates to a barrage of criticism against the authorities in charge.  The Government and the City watchdog, the Financial Conduct Authority, have also come under fire as industry experts accused authorities of playing a blame game and repeatedly failing to stop pension fraud.  The number of reported cases of pension fraud has more than doubled during the pandemic, despite warnings for savers to be extra vigilant against scammers using the crisis to prey on people’s anxieties.

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