Fraudsters follow the money, writes Mike Crowe. Here, he outlines why fraud and money laundering pose a very real threat to the second-hand annuity market...
Sometimes you get asked a question and the knee-jerk reaction is to dismiss it out of hand as just a wee bit daft. (My wife says she treats everything I ask in that way.) But with a bit more thought the penny drops and the question actually has some depth to it. That's the process my brain went through when I was asked the question: "So when the second-hand annuity market comes along won't that offer new opportunities for fraudsters and money launderers?" You see I had fallen into the trap of thinking pension fraudsters were all about pension liberation and unregulated investment o...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes