Trustees get power to block 'red flag' scam transfers

Government proceeds with plans to enhance ability to tackle scams in suspect situations

James Phillips
clock • 3 min read
Pensions and financial inclusion minister Guy Opperman. Credit: UK Parliament
Image:

Pensions and financial inclusion minister Guy Opperman. Credit: UK Parliament

Enhanced powers for trustees to block or pause transfers where there is potential scam activity will come into force on 30 November, the government has confirmed.

In a bid to cut down on scam and fraudulent activity, the Department for Work and Pensions  has confirmed it will go ahead with "red" and "amber" flag proposals. Outlined in a consultation earli...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Law and Regulation

Government confirms no compensation will be paid to Waspi women over state pension age changes

Government confirms no compensation will be paid to Waspi women over state pension age changes

DWP finds delays to communicate state pension changes did not amount to financial loss

Martin Richmond
clock 17 December 2024 • 5 min read
ACA, APL and SPP issue update on Virgin Media case

ACA, APL and SPP issue update on Virgin Media case

Tripartite working party urges DWP to regulate to allow retrospective amendments

Jonathan Stapleton
clock 17 December 2024 • 2 min read
Robin Ellison – We are all professionals now

Robin Ellison – We are all professionals now

PP’s regular columnist asks if we should really expect all sellers to have a fiduciary duty

Robin Ellison
clock 12 December 2024 • 10 min read
Trustpilot