Regulator sees fraud trend targeted at older Britons

28/04/2009

Money transfer or "419" scams, illegal telephone requests for bank details and worthless "pyramid" schemes are all being targeted at vulnerable elderly people, it has been claimed.

The Financial Services Authority (FSA) held a conference in London with industry professionals yesterday in order to discuss the issue - and is planning a national campaign for over-65s in collaboration with Age Concern and Help the Aged.

Figures from the watchdog show that 35 per cent of the scams are targeted at pensioners.

Meanwhile, 49 per cent of older Britons say that they do not have access to enough information to protect themselves against the fraud.

Chris Pond, FSA director of financial capability, said: "Fraudsters, like all criminals tend to prey on the most vulnerable people and our research shows this is definitely the case with criminals who commit financial crimes."

He added: "We are delighted that Age Concern and Help the Aged have agreed to work with us on tackling this problem. Our partnership will help ensure older people are better equipped with the tools they need to protect themselves from fraud and other financial scams so the fruits of their life's labours do not fall into the wrong hands."

Tags; Income Worries and Debt, Retirement Money Problems,

Regional Debt Advice; Debt Help London,

• Share
• 
• 
• Store
• 
• Follow
•