New information from the government-backed Cash and Pensions Service (MAPS) has revealed that customers have reported shedding £13.6m to monetary scammers over the previous 12 months, a mean of over £16,000 every.
MAPS, which supplies private finance steering to shoppers, additionally runs a devoted helpline for shoppers to report monetary scams.
Over the previous 12 months (April 2023 to March 2024) MAPS says its helpline information confirmed that 833 folks misplaced a complete of £13.6m on account of monetary crimes and scams – an estimated common lack of £16,297 per shopper.
Fraud accounted for 9% of the full losses with identification theft liable for 16%, checking account scams (14%), cyber foreign money funding fraud (14%), and Authorised Push Cost (APP) fraud (9%).
Fraud now accounts for roughly 38% of all crime in England and Wales and has greater than doubled in Scotland over the previous 9 years.
Some shoppers are actually getting assistance on recognizing pension fraud from MAPS.
A survey of customers for MAPS discovered that nearly three quarters of individuals (71%) reported that they felt extra assured in recognizing and managing a possible monetary rip-off after having a Pension Steering name with MoneyHelper.
MAPS stated it could proceed to encourage extra folks to “get in contact” with it to debate their pension points.
MAPS’ Pension Steering service reported optimistic suggestions, with 83% of those that had phone appointments saying they felt in “extra management” of their monetary state of affairs.
Prospects additionally stated they’d advocate the service to others (87%) and that they had been excited about or had already acted round their pension (69%).
Charlotte Jackson, head of steering providers at MAPS, stated: “Sadly, monetary crimes and scams are rife and it’s terrible to see a lot cash being misplaced, however hopefully our appointments may give folks extra safety and understanding in the case of coping with them sooner or later.”
MAPS additionally runs the Pension Smart web page on MoneyHelper.
• Survey information was produced by Market Analysis firm, Ipsos MORI. The survey presents information from clients who’ve been involved with MoneyHelper from December 2023 to February 2024 (and who’ve been interviewed from January and March 2024).