Since the introduction of pension freedoms, scammers and fraudsters have had more opportunities than ever to steal people’s pensions. The scourge of scamming has increased through the COVID-19 pandemic, with a greater consumer dependency on online financial information, coupled with a lack of enforced policy for online ads compared to TV and Print media.
It’s had a significant impact too, with an enquiry by the Work and Pensions Committee estimating that over £10 billion has been lost by around 40,000 people to pension scams since 2015. Worse still, the enquiry found that over 200 callers to Action Fraud were so distressed by what had happened them that the police had to be called due to individuals showing signs of being suicidal; highlighting more than the financial toll of this hideous crime.
So what can advisers, trustees, employers and consultants do to help protect consumers from scams?
Consumers need to be protected from a rising number of financial scams. And while the FCA, the Pensions Regulator and the Work and Pensions Committee are all focussed on reducing the impact of scams, those with direct consumer contact can make a big difference too.
By educating your clients, employees and members of the potential dangers of scams using interactive, engaging and highly informative video box sets, you can help protect them from imminent and future threats while helping to tackle the problem at large.
Adding video technology to your existing processes means that vitally important information can be accessed, viewed and understood in a matter of minutes. Better still, you can evidence what you’ve sent to your audience, show when they’ve completed their journey and when they’ve confirmed their understanding of the topic.
“We are happy for you to mention that you have spoken to us about the Money Alive Platform and the Pension Scam Aware box set and that we welcome this sort of initiative to help consumers avoid scams.”
The FCA, March 2021
Who’s it for?
Anyone who wants to help protect clients, scheme members or employees that might be subject to pensions or wider investment scams.
The Money Alive award winning platform is unique and has technical capabilities out of the box as well as a library of educational video experiences to use straight away.
Why use Money Alive?
Money Alive is a market leader in video engagement and our multi-award winning platform is trusted by hundreds of firms to deliver educational content through our unique interactive video experiences.
To date, we have over 250k videos viewed and based on a sample size of over 9,000 individuals, 94% said they were “better informed” and 98% said they valued being given access to the platform.
Find out more
Speak to a member of the platform sales team to get a demo of how the Workflow feature works and discuss how we could go about supporting your business objectives.