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The scams targeting older people – and how to beat them

The combination of Christmas and cost of living crisis is likely to make this winter peak season for fraudsters – so be prepared, says Fiona Cowood

It was 2020 and Christmas was just days away when Maggie* opened her front door to a police officer who told her that her bank account had been used to launder thousands of pounds. Not only that, but the culprit had, over a two-year period, also conned Maggie out of her life savings – a figure that totalled £150,000.

Like most scam victims, Maggie, who is in her 70s, never imagined it would happen to her. The experience left her reeling, both financially and emotionally. “I felt angry, ashamed and hurt… I’ve not told my daughter or any of my friends what happened.”

While Maggie’s story is shocking, it is sadly not uncommon. According to Age UK, the country’s largest charity for older people, one in 12 people aged 65 and over fall victim to a scam each year, while many others either don’t realise they have been defrauded or don’t report it. Millions more live in fear of it. Just this week, police said 70,000 people in the UK may have been victims of the iSpoof bank scam.

The cost of living crisis is leaving people even more vulnerable. “As people need more to pay the bills, they go for money-making ideas they wouldn’t normally consider. Sadly, many of those are fraudulent,” says Chris Brooks, head of policy at Age UK. And the stakes are higher than ever: according to research published by National Trading Standards last month, losing just £100 to a scam would leave one in four British adults in financial crisis.

Age UK, one of The Daily Telegraph’s charity partners this Christmas, offers older people advice on avoiding scams and helps victims rebuild their confidence and resilience. “Falling victim can

‘Even if you can adjust to the financial loss, the emotional damage can stop you trusting people’

be extremely damaging to people’s health and wellbeing – we hear from people who say it’s utterly ruined their later life,” says Brooks. “Even if you can adjust to the financial loss, the emotional damage is significant: it can stop you from trusting people.”

He says there is no shame in falling for a scam. “These are sophisticated criminals. They have so many tricks and strategies to persuade people to part with their cash. That’s why it’s vital people know what scams are out there and what measures they can take to protect themselves.”

CHARITY APPEAL

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Daily Telegraph