The Pension Scams Action Group (PSAG) has welcomed the government’s launch of a new fraud disruption unit as part of a wider strategy to tackle fraud across the UK.

The Home Office confirmed that the new Online Crime Centre would begin operations in April, bringing together specialists from government, police, intelligence agencies, banks, mobile networks and major technology firms.

Backed by more than £30m in funding, the centre will aim to identify and shut down accounts, websites and phone numbers used by organised crime groups, block scam texts, freeze criminal accounts and remove fraudulent social media content.

The wider fraud strategy, supported by £250m of investment over the next three years, also outlined plans to deploy artificial intelligence to detect emerging fraud patterns and prevent suspicious bank transfers.

In response, the PSAG, which sits at the forefront of efforts to tackle pension fraud, said the strategy represented a significant step in improving collaboration between regulators, law enforcement and industry partners.

The Pensions Regulator (TPR) executive director of enforcement and legal group, Gaucho Rasmussen, said that "fraud wrecks lives," and "tackling it demands strong, coordinated action."

“The PSAG works closely with law enforcement, government, the pensions industry and other partners to detect, disrupt and block pension fraudsters and hold perpetrators to account," he continued.

“We welcome the government’s fraud strategy as a significant step forward, which recognises the need for robust inter-agency collaboration to stop scammers in their tracks and protect savers’ money.”

PSAG, led by TPR, brings together government bodies, law enforcement, intelligence agencies, and industry stakeholders to combat pension fraud and prevent savers from falling victim to scams.

The group has worked to dismantle fraudulent business models, prosecute fraudsters and confiscate assets linked to scams, while also helping to secure stronger legislation to combat pension fraud.

In addition, PSAG said its work with partners has helped secure more than £180m in compensation for victims of historic pension scams, which has been paid to affected schemes since August 2024.

Commenting on the wider issue of scams, the government revealed that around one in 14 adults and one in four businesses in the UK have been victims of fraud, with the crime costing the economy more than £14bn each year.

Home Office minister, Lord Hanson, said: “Fraudsters are exploiting new technology, industrialising their operations and targeting the British public at scale.

“That’s why we’re bringing together the key players in the system - police, intelligence agencies, banks, mobile networks, regulators and tech companies - to shut down the channels scammers rely on, wherever they operate from.”

The strategy also set out plans to improve support for victims, including the introduction of a new fraud victims’ charter that would establish national standards for response times and care.

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