From medieval conmen persuading people to hand over hard cash for worthless ‘holy relics’, to Charles Ponzi promising amazing returns on the back of earlier victims’ money, fraudsters have always been with us and probably always will be. While this is all too true, we can make life a lot tougher for fraudsters – but we need to move rather faster than we have done to date. Continue reading
Posted in Fraud, Money Matters, Pensions, scams
Tagged #scamaware, Age UK, Age UK blog, ageing population, ageing society, Fraud and Scams, older people, Pension scams, Pensions Advisory Service, scams awareness, scams awarness older people
Paul Cunningham (Flickr Creative Commons)
This blog post was contributed by Phil Mawhinney, Policy Officer, at Age UK
You probably know someone who found love through a dating website – perhaps you did yourself. But you may also have seen cases of people who thought they had met someone special online, only to lose thousands of pounds through fraud. You might think that this is a rare crime and, really, people should know better.
It might surprise you to learn that romance/dating fraud is a big and growing crime. One person who has fallen victim reports dating fraud every three hours, according to the latest figures from Action Fraud, the fraud reporting centre. Continue reading
Posted in Fraud, General, Information and Advice, Money Matters, scams
Tagged Action Fraud, Age UK, Age UK blog, Ageing, ageing population, ageing society, older people, Romance fraud, scams awareness, scams awarness older people
When John transferred the money, he thought he’d got a great deal. In the current market, deciding what to do with his pension lump sum hadn’t been easy, but this investment opportunity had come just at the right time and the promised returns looked great. It was only when his building society contacted him that he had second thoughts…
Posted in Consumers, Money Matters
Tagged Age UK, Age UK blog, Ageing, ageing population, ageing society, avoiding scams, Fraud and Scams, older people, older people scams, scams awareness
Over half (53%) of people aged 65+ believe they’ve been targeted by a scam, as revealed by an Age UK poll. This means a staggering 5.7 million people could be at risk.
And the scale of problem is probably even worse due to under-reporting – over 60% of people who received a scam didn’t report it to anyone.
Not everyone responded to attempted scams but of those who did 70% lost money. A third of older people who did respond may have lost £1,000 or more.
These alarming figures – from our new evidence review – come as new pension freedoms take effect. Many people over 55 now have access to pension savings worth tens of thousands of pounds and fraudsters will target them. Continue reading
Posted in Communities and inclusion, Consumers, Money Matters
Tagged Age UK, Age UK blog, Ageing, ageing population, ageing society, avoiding scams, Care in Crisis, elderly scams, Fraud and Scams, money matters, older people, older people scams, scams awareness, scams awarness older people