Feb 17 • 15:50 UTC 🇱🇹 Lithuania 15min

Police: Money taken from pension funds can be lost quickly

The police warn the public to be cautious about withdrawing funds from pension schemes due to potential financial scams.

The police's virtual patrol has issued a reminder on their Facebook page regarding the risks associated with withdrawing funds from pension schemes. They advise individuals to be discreet about the amount of money they receive and to critically evaluate any investment offers they may encounter. Furthermore, the patrol warns against trusting phone calls related to money transfers, urging individuals to hang up if they suspect fraud, and to avoid transferring money to others for 'verification' or 'safekeeping'.

In the wake of increasing scams targeting pension fund beneficiaries, the police emphasize the importance of making informed decisions and doing due diligence. They encourage individuals to consult with family members before making any hasty financial choices. The message highlights the rising concern about financial security, especially for those withdrawing substantial sums, as they may become prime targets for scams.

For anyone who has fallen victim to such scams, the police recommend filing a report via the official online portal or by calling the emergency number 112. The police virtual patrol's message reassures the public not to lose hope even in dire situations and stresses the collective responsibility in recognizing and reporting fraudulent activities against vulnerable individuals.

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