Pension Liberation Fraud in UAE. Edmonds Marshall McMahon are experts in conducting fraud prosecutions. We are a unique firm, staffed by attorneys and investigators, and have significant experience in ensuring that victims of fraud, in the UAE and elsewhere, are compensated and that defendants are denied the proceeds of their crime.
We commonly advise on pension liberation fraud, which happens when fraudsters cold call victims and convince them to withdraw funds from their pension pot before retirement. The fraudsters then channel the funds into high-risk investments (often offshore), promising high returns – unfortunately, however, many victims lose their entire pension.
Pension liberation fraud is part of a wider crisis across the globe. By way of example, in January 2021, the Royal United Services Institute (“RUSI”), a defence and security think tank, published a paper explaining that fraud in the UK has reached epidemic levels. According to this paper, fraud is the “volume crime of our time”. There is certainly increased media attention around the issue – for example, shortly after the RUSI paper was published, the BBC reported that the UK’s fraud epidemic is now a “national security threat”. Notwithstanding greater awareness of this world-wide problem, the response of governments across the globe continues to fail individuals and businesses. Traditional law enforcement agencies are still failing to prioritise fraud offences, even as reports continue to rise. This state of affairs is at the heart of Edmonds Marshall McMahon’s mission – as private prosecutors, we specialise in providing fraud victims with access to justice.
We understand that this kind of fraud may cause embarrassment to victims, leading them to batten down the hatches and not report crimes. Crucially, however, private prosecutions can have a significant deterrent effect on fraudsters who target pensioners, some of whom may be particularly trusting and vulnerable. Bringing a private prosecution sends a clear message to potential fraudsters – that individuals will take decisive action to route them out. Our clients in the UAE benefit from our global reach and access to specialists, including investigators and forensic accountants, in various jurisdictions. Whatever the fraud, please talk to us (free of charge) so we can advise you on what is possible. As specialist prosecutors, we have the knowledge and resources that could make the difference between your recovering some, or indeed all, of your money.