Pension scams are sadly widespread in the UK, with scammers targeting often lucrative pension pots.
In a new move, the Pension Scams Industry Group is working with a fraud prevention organisation to tackle the growing problem.
The Pension Scams Industry Group is working with anti-fraud organisation, Cifas, to launch an open-source network. Within this network, information on suspicious companies and pension arrangements can be reported.
This network will be a platform on which members can post concerns regarding advisers or companies believed to be potentially acting inappropriately or fraudulently.