24th November 2017 - Samuel Martin

Over two-fifths of elderly pension savers say they’ve been targeted by scammers

Nearly five million older people have been targeted in one form or another by scammers according to new research by Age UK.

Which groups are most vulnerable?

The charity has warned that older people are particularly at risk of being scams victims, with over two-fifths saying they’ve been a target.

Just over a tenth of older people have then gone on to respond to a scam.

Among single people, over a quarter had responded to a scam.

They were also more likely to proceed to paying the scammers and 16 per cent of single people had given over money, compared to only 6 per cent of married people.

Over a fifth of those who weren’t in a relationship had also given their personal details to scammers.

Only 2 per cent of married people had done this.

The research, across all age groups, has revealed that age is one of the key factors in determining the percentage of people who are duped-People over the age of 75 were more inclined to give scammers their financial or personal information.

More than a fifth of people who had been targeted admitted to not telling anyone at all because they felt too embarrassed.

Most people who did admit to being scammed only told their friends and family instead of an official channel.

What can be done to try and prevent scammers contacting older people?

Research by the Money Advice Service finds that there could be as many as eight scam calls every second – the equivalent of 250 million calls per year. The recommendation from the citizens’ advice bureau is to report any unsolicited callers who are trying to obtain money via underhand tactics immediately. This callers can be reported to action fraud who can be contacted online at https://www.actionfraud.police.uk/ or by phone on 0300 123 2040.

Herbert Scott thinks: It is best not to give out any financial or personal information to unsolicited groups as this could end up being given to scammers. If you want pension advice from one of our Chartered Financial Planners, we are happy to help with this. Should you need our help please contact us on 01273 407 500.

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