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flag Pension scams cost victims an average of £47,000, with only 20% of cases reported in 2023.

flag Pension scams have led to £17.7 million in losses in 2023, with victims losing an average of £47,000 each. flag Only one in five scams are reported, suggesting the actual losses could be higher. flag The Pensions Regulator and Financial Conduct Authority are working to reduce the stigma around reporting scams and are launching a new reporting service to help victims. flag Scammers often target individuals over 55 with misleading investment offers.

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