As a member of the Work and Pensions Select Committee, Shaun Bailey, MP for Wednesbury, Oldbury and Tipton, has a vital role in scrutinising the work of the Department for Work and Pensions.
The Committee have today published a report into pensions scams with recommendations for the department on future action to reduce the number of scams.
Commenting, Shaun Bailey MP said, " As someone who has previously worked in the financial sector, I find this report extremely alarming.
It is clear that the Government needs to do more to look at the legislation surrounding online safety and, more widely, pension freedoms to tackle scammers and fraudsters.
In addition, the immoral practices of the big tech companies such as Google, who are accepting payments to advertise scams and then further payments from regulators to publish warnings, is a matter of real concern.
The practice of scamming individuals, such as my constituents in Wednesbury, Oldbury and Tipton, should be not be a money-making exercise for these tech giants.
I look forward to the Government’s response on this report and the steps they plan to take in protecting the lifelines for many after retirement."
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