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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.