How to avoid them

Check the Financial Conduct Authority’s register of companies and individuals offering financial services. It also keeps a warning list of dodgy operators and has a tool to help you ascertain if an “opportunity” could be a scam: visit fca.org.uk/scamsmart.

Before you take up an investment opportunity, get a second opinion: scammers rely on pressure selling, but it’s always a good idea to take time to think and consult others.

Be aware that pension cold-calling is now illegal and should be reported to the Information Commissioner’s Office on 0303 123 1113.