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Pensions Reform Scams In UK

How the scam works:

The United Kingdom recently implemented some regulatory changes that allow those aged 55 and above to have direct access to their pensions pot for the first time. However, the good news generated an increase in nuisance calls, text messages, and email, trying to lure the elderly into giving personal information to scammers.

Ofcom, which is an independent regulator and competition authority for the UK communications industries (covering the TV and radio sectors, fixed line telecoms, mobiles, postal services, plus the airwaves over which wireless devices operate) advises everyone to take a stance against criminals and unwanted approaches.

How to avoid:

Ofcom also provides information about phone services that can help tackle nuisance calls, text messages, and cold calls. You can read about them by clicking on the links above.

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