LV= highlights how consumers can minimise the risk of pension scams
- Hang-up if you have concerns straight-away. If you receive a cold-call, the safest thing to do is to hang up, as chances are it's a scam.
- Make sure you're aware of the warning signs. This includes unsolicited approaches by phone, text, email or even at your door.
- Can you call the firm back? If you're forced to make a quick decision this is a sign of a potential scam. Contact details on their website may only be mobile numbers which is another red flag.
- Understand the salesperson. Check whether the caller, or their firm, are licensed to sell. Check the FCA register of regulated companies, or the FCA warning list.
- Make sure you ask questions. Most scammers don't want you to investigate their 'offers' so make sure to do your own research and look into the company, including their financial statements.
- And remember, if it sounds too good to be true - it probably is. Fraudsters like to offer low risk investments with a high return.