Private pensions under investigation for data fraud, third-party selling
The Information Commissioner’s Office (ICO) has launched an investigation into claims that private pension data belonging to thousands of people is being sold to third-party organisations.
The firm is analysing whether the allegations that pay, investments and pensions data are being handed over to criminals and firms that cold-call, may be true.
According to The Times, concerns have begun to loom over the activities of those with access to private pensions data.
The ICO fears people may be taken advantage of by criminals and fraudsters when new reforms allow more people to cash in the pensions much sooner than before.
It told The Guardian that a report featured in the Daily Mail about the data-selling scandal was “worrying” and that it would have to contact regulators and police about how best to proceed.