The Pensions Administration Standards Association (PASA) has appointed Crowe as their Expert Partner concerning cybercrime and fraud. Jim Gee, Head of Forensic Services will chair a cybercrime and fraud working group. Jim is also a Visiting Professor and chair of Europe’s premier research unit concerning these issues at the University of Portsmouth. Jim will work closely with Andrew Penketh, Head of Pension Funds, who has lead work with many types of pensions organisations for over two decades.
The working group will include representatives of pensions administrators as well as those with a range of related professional skills.
The aim of the working group is to develop two new, future standards for pension administrators in respect of cybercrime and fraud.
“We are delighted that Crowe UK will be partnering with PASA to lead this important work. Cybercrime and Fraud is a significant issue for the Pensions Regulator, Pensions Minister and the industry as a whole. We look forward to PASA members and the wider pensions sector benefitting from the expertise of this Group.”
“It is crucial that pensions organisations are properly protected against fraud and cybercrime in a context where these threats have become much more prominent. They threaten the value of pensions at a time of life when sources of income become more limited and the chances of financial recovery diminish. Our aim is to develop clear practical standards which can help pensions administrators to protect themselves and therefore the pensioners who rely on them.”
“Crowe are delighted to be partnering with PASA on this initiative. The development and take-up of these new standards will reassure trustees and scheme members that pensions administrators are protecting schemes from the evolving threats of fraud and cybercrime.”