Safeguarding Sensitive Data: The Significance of ISO 27001 for Pension Audit Companies

In today’s digital age, data breaches and cyber threats are lurking around every corner, posing a threat to businesses across all industries. For pension audit companies who are entrusted with sensitive financial information, ensuring data is safe is a top priority. This is where ISO 27001, the international standard for information security management, plays a…

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The Rise of Pension Cyber Scams and How to Stay Safe

As technology advances it is becoming increasingly important to ensure your cyber resilience meets the everchanging regulations. In day-to-day operations, businesses rely heavily on technology and data which is why fraudsters use this to their advantage to disrupt, corrupt and extort data for financial gain. Trustees must be prepared and ensure their pension scheme members…

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Combatting Pension Scams using Communication

With the rise of pension scams, understanding the risks and communicating them effectively is crucial for prevention. As we move further into an age of online presence, the need for active scam awareness is growing. How significant is the issue? “Cyber attacks may be the biggest threat the financial sector faces today” – JP Morgan…

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Stopping Pension Scammers

Scams that target pension scheme members and their retirement benefits are a growing and persistent problem that is intensifying problems faced by members amidst the cost of living crisis in the UK. These scams can leave catastrophic impacts to members and their families at a time where there is enough for them to deal with…

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What is Open Banking and how can it help the world of audit?

open banking

In 2021 open banking hit a UK high of 4.5 million users with 3.9 million of those being consumers and 600,000 small businesses, however despite the strong growth of open banking within the UK, many people still have never heard of the term. Open banking gives individuals and companies the ability to share current account…

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Near record high of 70% of transfer requests show scam warning flags

transfer request

XPS Pensions Group can monitor transfer requests using their Transfer Watch. This allows them to keep track of transfer activity, transfer values, and scam warning flags that appear when a transfer request is made. Recent findings have shown that the number of transfer requests that have triggered a scam warning flag has increased month on…

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How protected are your schemes against fraud and cybercrime?

cybercrime

Poor technological infrastructure and inadequate cyber and data security are hampering the productivity of employees working from home – and represent a cyber risk to Pension Schemes. Find out how we’re dealing with this here. While fraud and cyber risks have always been apparent, given the changes to how suppliers have operated and the current…

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