General Insurance Article - Aegon comments on cold calling


Commenting on the consultation to ban cold calling Kate Smith, Head of Pensions at Aegon said:

 “We’re pleased the Chancellor has committed to a consultation banning cold calling before the end of the year. Perhaps the most valuable aspect of a ban would be the awareness that it will bring to consumers, people should not be phoning them out of the blue about their pension. The true extent of pension fraud is unknown, and some people may not realise they have fallen victim to a scam for some time. Once a scam has taken place it’s almost impossible to get the money back.

 The proposed ban on cold calling is a major step forward but we hope the consultation gives room to tackle related frauds via texts and emails which are other common techniques used to try to part people from their hard-earned cash. Scams are constantly evolving as soon as you remove one fraud method, another variant on the old scheme pops up. A ban on cold calling won't be foolproof, but at least it will put more people on their guard and criminalise those who make the calls.

 People should remember the old adage, if something looks too good to be true it probably is.

 “Fraudsters try to groom their victims making it difficult for providers to raise concerns with their customers about suspicious transfers or tipping off the fraudster. Giving providers more powers to block suspicious transfers is something we've long-called for and will protect customers from future scams, but the devil will be in the detail.”
  

Back to Index


Similar News to this Story

Sleighing the risks by giving Santa the insurance he needs
While you might be the most magical employer in the world, we know that even you aren’t immune to the risks of running a global delivery service! From
Diversity improving in insurance and long term savings
Key figures from the Association of British Insurers’ latest Diversity, Equity and Inclusion (DEI) data collection highlight the work of insurers and
Almost a third of homeowners have been victims of burglaries
Research commissioned by Co-op Insurance reveals that almost one in three (29%) homeowners have been the victims of theft from their home. The member-

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.