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# Suffolk Police warn of pension fraud as county's most vulnerable lose £688k last year
- URL: https://www.ipswich.co.uk/suffolk-police-warn-of-pension-fraud/
- Published: 2024-09-20T12:13:33.000Z
- Updated: 2026-03-16T15:35:01.000Z
- Description: Suffolk residents lost nearly £688,000 to pension scams last year, and police are urging vigilance against fraudsters targeting retirement savings.
- Author: Oliver Rouane-Williams
- Tags: News, Appeals, Crime, #article, Suffolk Constabulary, #Import 2026-03-16 14:46

**The big picture:** Action Fraud reports £17.7 million was lost to pension fraud nationally in 2023, with 559 cases reported. Suffolk accounted for eight of those reports.

**Why it matters:** Losing retirement savings can be devastating for victims. Police are encouraging residents to thoroughly research pension arrangements before making any changes.

**By the numbers:**

- £687,990 total losses reported in Suffolk
- £85,6988 lost per victim in Suffolk compared to £46,959 lost per victim nationally
- April saw the highest number of reported losses, accounting for 15% of 2023's total

**What they're saying:** Claire Webb, Acting Director of Action Fraud said, "Criminals will go to great lengths to trick anyone out of their money, in this case, it's someone's lifesavings at risk."

**How to protect yourself:**

- Hang up on unsolicited calls about your pension - cold calling is illegal
- Seek advice from an FCA-authorised adviser before making changes
- Be wary of pressure to invest quickly or promises of unrealistic returns
- Check the FCA Register to verify financial service providers

**What's next:** If you suspect a scam, report it to the [Financial Conduct Authority](https://www.fca.org.uk/?ref=ipswich.co.uk) on 0800 111 6768 or via their website.

**The bottom line:** Pension fraud often disguises itself as free reviews or too-good-to-be-true investment opportunities. Stay vigilant and seek independent advice to protect your retirement savings.

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