Financial scams & the elderly
A report published today by the Financial Ombudsman Service suggests that people over the age of 55 are four times more likely to be caught out by “vishing” or a “no hang up scam”. 80% of the customers who were scammed were over the age of 55 and one in five were aged over 75. The 200 cases reviewed involved losses of over £4 million.
The Financial Ombudsman service wants to encourage people to talk about scams with friends and relatives so they become more aware of the risks and have published a number of hints and tips to help people protect themselves from financial fraud.
If you want to talk about how setting up a Lasting Power of Attorney could also help protect you against fraud contact Andrew Raftery at our East Parade Office.
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