Scams training open to community services such as firefighters, GP practice staff and librarians
Frontline workers in Wales such as carers and emergency services staff will receive training to help protect people from financial scammers, as part of support offered by the Money and Pensions Service.
Public education about financial scams is crucial, when 50% of adults in Wales (1.3m) do not feel confident about protecting themselves from financial scams, and only 56% of adults in Wales (1.4m) know of organisations and websites that can offer free or affordable help about financial decisions.1
Research has shown that those working in trusted professions have the skills to help people most at risk from financial fraud.2 By providing training in Cardiff and Bangor to support workers who regularly engage with people in the community, the Money and Pensions Service hopes that these trusted messengers can raise awareness of financial scams and help people identify the warning signs so they can avoid scams. Training will take place at two events in Cardiff and Bangor, which are open to anyone who works with or supports members of the public in Wales, from carers, police and librarians to staff at GP practices.
Lee Phillips, Wales Manager at the Money and Pensions Service said:
“Every day, fraudsters are trying to part savers from their hard-earned money with increasingly sophisticated scams. People who are scammed lose on average £82,000 each from their pensions3. That’s a life changing amount of money to lose.
“By training frontline workers who are already known and trusted in their communities, we can help more people to be aware of financial scams and the simple steps they can take to protect themselves.”
In addition to MaPS representatives, speakers at the events will include:
- The Pensions Regulator
- Pensions Scams Industry Group (PSIG)
- Financial Services Compensation Scheme (FSCS)
- Age Cymru, which will be presenting on their work with the Wales Against Scams Partnership (WASP)
The Money and Pensions Service offers the following tips on how people can protect themselves from pension scams:
- Be wary of adverts online and on social media promising high returns from investing. If it sounds too good to be true, it probably is!
- Be suspicious if you are contacted out of the blue and pressured to invest in time limited offers using couriers to send documents
- Always check that the person and the firm you are talking to are who they say they are. If you use an unauthorised firm, you won’t have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS).
- The FCA has a tool to check the risks of pension and investment opportunities
-ENDS-
For media enquiries contact:
MaPS Press Office 020 8132 5284 / media@maps.org.uk
Mia Cochrane, senior press officer 020 8132 4937 / mia.cochrane@maps.org.uk
Sarah Cordey, senior communications manager 020 8132 5251 / sarah.cordey@maps.org.uk
Notes to editors
- Financial Capability Survey 2018, Money and Pensions Service
- Ipsos MORI Veracity Index 2019
- 22 years of pension savings gone in 24 hours, Financial Conduct Authority, 2019
About the Money and Pensions Service
The Money and Pensions Service (MaPS) vision is: ‘everyone making the most of their money and pensions.’
MaPS is an arm’s-length body sponsored by the Department for Work and Pensions (DWP), and it has a joint commitment to provide access to the information and guidance people across the UK need, to make effective financial decisions over their lifetime. The organisation also engages with HM Treasury on policy matters relating to financial capability and debt advice.
MaPS brings together the free services previously delivered by the Money Advice Service, The Pensions Advisory Service and Pension Wise. MaPS offers customers guidance and appointments over the telephone, online and in person.
For further information visit the Money and Pensions Service website www.moneyandpensionsservice.org.uk
Consumers can continue to access free guidance about their money and pensions via the following websites and help lines:
www.moneyadviceservice.org.uk / 0800 138 7777