DORSET Police have backed a warning from Action Fraud about protecting pensions.

Figures from the national reporting centre for fraud and cyber crime show £1.8 million has already been lost to pension fraud this year.

Data from Action Fraud shows a steady fall in pension scam reports from 1,788 in 2014 to 358 in 2020 – a reduction of almost 80 per cent.

However, there has been an increase in reporting so far this year, with 107 reports of pension fraud received in the first three months of 2021. This is an increase of almost 45 per cent when compared to the same period in 2020.

Pauline Smith, head of Action Fraud, said: “Criminals are malicious and unapologetic when it comes to committing pension fraud.

"They are motivated by their own financial gain and lack any kind of empathy for their victims, who can often lose their whole life savings to these scams.

“We know pension fraud can have a devastating impact, both financially and emotionally, but any one of us can fall victim to a fraud and it’s nothing to feel ashamed or embarrassed about.

"t’s incredibly important that instances of pension fraud, and attempted scams, are reported to Action Fraud.

"Every report helps police get that bit closer to the people committing these awful crimes.

"Reporting to Action Fraud also allows our specialist victim-support advocates to provide people with important protection advice and signpost them to local support services.”

If you think you’ve been a victim of pension fraud, contact your pension provider immediately and report it to Action Fraud online at actionfraud.police.uk or by calling 0300 123 2040.