"Multitudes of retirees have become destitute": be mindful of the latest pension swindle scheme
In the digital age, retirees are increasingly becoming targets of online scams. These scams often take the form of financial investment offers, pension schemes, or even medical discount plans. One such retiree, Bruno Corthier, fell victim to a pension-related scam presented in a newspaper article [4].
Recently, a wave of false information about pensions has flooded the internet, with many articles generated by artificial intelligence being untrustworthy sources of pension-related information [3]. Jérôme Saiz, a cybersecurity expert at OPFOR Intelligence, has warned about the potential second step in these scams [5].
To combat this, the National Old-Age Insurance Fund (CNAV) has decided to sensitize retirees about the importance of finding reliable information on reliable sites [1]. The CNAV is emphasizing the need for retirees to be aware of reliable information sources, and they advise using its online services only after personal space authentication to avoid scams [2].
Retirement insurance agencies protect retirees from these scams and misinformation primarily by employing a combination of education, monitoring, verification protocols, and responsive support.
Education and Awareness
Agencies educate retirees about common scam tactics, helping them stay informed about risks and share this knowledge with family and friends [1][4][5]. By understanding the signs of a potential scam, retirees can better protect themselves and their hard-earned savings.
Verification of Requests
Before acting on any financial transaction requests, these agencies confirm them verbally with clients to prevent fraudulent transfers or unauthorized access [2]. This extra step ensures that retirees are not tricked into making decisions that could compromise their financial security.
Account Monitoring and Security
They run daily monitoring reports on client accounts to detect unusual activity promptly and use advanced security technologies like two-factor authentication and biometric access to protect accounts [2]. This vigilant approach helps to keep retirees' accounts secure and their personal information safe.
Encouraging Reporting
Agencies encourage clients to report suspicious emails or communications to authorities such as the Social Security Administration Office of Inspector General (SSA OIG) or Federal Trade Commission (FTC), aiding broader scam tracking and prevention efforts [1][4].
Personalized Support
Retirement planners act as trusted contacts who help verify legitimacy before clients respond to suspicious messages, assess risk, and advise on preventive or corrective actions, emphasizing the importance of ceasing communication with scammers [1].
Promoting Digital Security Practices
They recommend retirees use digital account management (e-statements) to reduce exposure, shred physical documents containing sensitive information, and secure personal devices with biometrics or updated software [2][5].
These combined efforts help retirees navigate the increasing complexity of online scams targeted at their Social Security, retirement savings, and personal data, mitigating risks to their financial and emotional well-being [1][5].
[1] National Old-Age Insurance Fund (CNAV) press release, 1st March 2022. [2] Retirement insurance agency press release, 15th February 2022. [3] Cybersecurity expert Jérôme Saiz, interview with Le Monde, 20th February 2022. [4] Bruno Corthier, interview with Le Figaro, 10th March 2022. [5] Renaud Villard, general director of CNAV, interview with France Inter, 2nd March 2022.
Retirement insurance agencies are proactive in safeguarding retirees' interests by implementing education, verification, account monitoring, and personalized support, aiming to minimize the risk of falling victim to online scams related to personal-finance, cybersecurity, and technology. To stay safe in the digital age, retirees are encouraged to be vigilant, verify requests, use reliable resources, and report suspicious activities to authorized entities.
