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Early Pension Release Scams

retirement fraud

The pension fund is associated with those happy days when you or your beloved one gets retired and spends the rest of his or her life doing whatever he or she wants! No permissions, delays, and wearing ties. Only chilling and relaxing on retirement.

But what if something happens with the pension fund and all your money went to the dirty hands of scammers? What would you do and how to don’t let it happen? Continue reading to know more.

Everything You Need to Know About Pension Scamming

We have gathered the most important information about pension fund frauds that surely gonna be helpful. The article consists of the following themes:

  1. What is retirement fund fraud?
  2. Who can be a target of scammer’s attacks?
  3. Who can be a fraudster?
  4. Who can help you to restore justice?

What is Pension fund Fraud?

pension fund fraud

To know more about issues related to fraudulent actions in the area of pension funding of pensioners and retired individuals you should know the definition. A retirement scam is an action that requires the usage of deception in reliance on a pension claim. There are two general types of such kind of scam:

  • A deceitful action connected to the process of delivery of pension bonuses or funds;
  • A scam acts the main target of which is to illegally take someone’s personal information or any other pension fund fraud activity of a person committed in favor of own goals by a scammer;
  • Pension fraud fidelity investments related to tricky loans to buy a property or land.

Who Are the Victims of Pension Fund Fraud?

What types of individuals are the main targets of scammers attacks? The first group is workers being tricked by employers. Such disputes arise because an employer tries to fraud his employees by delaying or even denying that employee or employees have to receive pension benefits.

The next group of pension fraud covers a diversity of various frauds or scamming schemes the main goal of which is generally to obtain personal data or any other information throughout the deception of retiring individual(s).

The third group is closely related to the second one because the primary target of scammers pursued by intention to have some easy money is to steal private information or involve pensioners or retired individuals to invest money into property. Also, such a type of deception is closely related to mortgage frauds.

Who Are Pension Fraudsters?

retirement fraud
  • Businessmen that don’t want to let their employees get their pension funds;
  • State officials that are involved in government pension frauds;
  • Professional scammers who earn a living by deceiving people.

Despite these groups of fraudsters are working on different levels, the ways they applying are similar. Scammers use disinformation, people’s negligence, unknowing of their rights, and legal interests. That’s why it is essential to read laws and other legal acts and documents to know your rights and freedoms.

Where You Can Go to Report a Pension Fraud?

If you have become a victim of a pension scam or someone of your friends or family members have got the same problem you should make a report to the following bodies: local police department, state attorney general, The Employee Benefits Security Administration, or your organization’s supervisor or a member of human resources department.

Also, the team of 123 ChargeBack is here to help you catch those scammers or get some kind of satisfaction! You can fill-up the form on the “report a scam” page or share your story with the “contact us” page. Don’t let scammers in the field of retirement fraud or any other a single chance to trick someone else! Resist and fight back because together we are stronger and can defeat them all.

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Author of article

Tatiana Sharapova

Interests: music, finance, cinema, art

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