Online scams: There are so many posts currently circulating on Facebook claiming that everyone who shares them will receive a shopping coupon or will be entered into a prize draw to win shopping vouchers.
Each post denotes a sense of urgency giving a very short time limit to take part.
The posts also feature an image that supposedly depicts one of the vouchers you will receive.
These posts are fraudulent and have no connection to the named retailers.
Nobody who participates will receive a coupon or any vouchers.
If you see one of these giveaway posts, don’t be tempted to participate. You have no chance of winning the promised prize, and you may risk your privacy and security by sharing your personal information with online scammers.
Pensions scams: Victims of pensions scams could lose 22 years’ worth of savings within 24 hours, according to the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR).
New analysis as part of the regulators’ joint ScamSmart campaign reveals that it could take 22 years for a saver to build a pension pot of £82,000 – the average amount victims lost to scams in 2018. But despite this, many savers could be at risk of falling for scammers tactics within 24 hours. New research reveals that almost 1 in 4 people (24%) surveyed, admitted to taking 24 hours or less to decide on a pension offer.
Worryingly, overconfidence could also lead to savers missing the signs of a scam. Despite nearly two-thirds (63%) saying they are confident to make a decision about their pension, the same proportion (63%) would trust someone offering pensions advice out of the blue – one of the main warning signs of a scam.
Further still, the more highly educated the person, the more likely they are to fall for a pension scam. Those with a university degree are 40% more likely to accept a free pension review from a company they’ve not dealt with before, and 21% more likely to take up the offer of early access to their pension pot. Both common scam tactics.
Pension fraud can be devastating. Victims can be left facing retirement with limited income, and little or no opportunity to build their years of savings back up. As a result, the regulators are warning savers to get to know the warning signs of a scam, be ScamSmart and always check who they are dealing with before making a decision on their pensions.
Pension savers can test how ScamSmart they are by taking a quiz on the ScamSmart site. Visit www.fca.org.uk/scamsmart to find out more.
The regulators recommend four simple steps to protect yourself from pension scams:
1. Reject unexpected pension offers whether made online, on social media or over the phone
2. Check who you’re dealing with before changing your pension arrangements – check the FCA Register or call the FCA helpline on 0800 111 6768 to see if the firm you are dealing with is authorised by the FCA
3. Don’t be rushed or pressured into making any decision about your pension
4. Consider getting impartial information and advice
The Pensions Advisory Service provides free independent and impartial information and guidance. If people aged 50 or over require free independent advice, they can contact the government-backed Pension Wise service. To book a free appointment, visit www.pensionwise.gov.uk/en. Research shows that strong relationships can form between socially isolated individuals and scammers because of the regular contact that they make.
Lonely people are FOUR times more likely to fall victim to scams. Alleviating social isolation is one way of combating loneliness and helping to stop those individuals being a scam victim. The best way we can protect our community is to work together to end loneliness. Make a point of calling in on elderly and vulnerable neighbours and checking that they are okay. Call a friend or family member that you haven’t spoken to for a while. Don’t let someone you know become a scam victim.
Allergy alert: Mondelez UK is recalling Cadbury Dairy Milk Little Robins because some packs contain almonds (nuts) which are not mentioned on the label. The product has been incorrectly packed with Cadbury Dairy Milk Little Robins Daim Chocolate. This means the product is a possible health risk for anyone with an allergy to nuts. If you are intolerant or allergic to Almonds please check the batch details here: https://www.food.gov.uk/news-alerts/alert/fsa-aa-95-2019.