1
Organisations that provide a financial service should be registered with which regulator?
Financial Conduct Authority
What is a red flag that an investment is a scam?
Cold calls, texts and/or emails. No prior contact or research for possible investments.
If the suspect claims the investment is "celebrity endorsed".
There will be little or nothing in the way or contact names, addresses or phone numbers.
How would victims check if an investment or pension scheme is legitimate?
Through the FCA-Scam Smart Investor website:
What type of pensions does the Pension Regulator provide advice for?
Work based pensions
The difference between work based and personal is one is set up by your employer and the other is set up by you.
What is one thing we must advise all victims of investment scams about?
Fraud Recovery Fraud.
This it to try and prevent them from becoming a repeat victim and that they have the tools to help identify these types of calls/emails.
If the victim is interested in Binary options what would you suggest?
Check the company is FCA registered and check FCA Scam Smart.
At what age can you withdraw from some pensions?
55
If you try to withdraw before this age the victim can be hit with heavy tax penalties. There are special circumstances that allow people to withdraw before the age of 55.
What website can provide free and impartial advice about pensions.
Money Helper
Money Helper is a government-backed service that gives guidance on a range of money matters. The team can also help you access free advice on money worries as well as pensions.