Dean Butler, Managing Director for Customer at Standard Life, part of Phoenix Group, has commented on reports that the government is set to ban cold calling on all financial products.
He said: “People have a right to know who they are dealing with and cold calling can muddy the waters creating opportunities for fraudsters. Building on the 2019 move to ban pension cold calling and extending it to all financial products has the potential to reduce the scourge of financial fraud which causes a great deal of pain.
“While pension fraud still exists, there is widespread recognition that the cold calling ban was a step in the right direction which ultimately has made people more cautious of unsolicited pension review calls and other tactics previously employed by some fraudsters.”
