Around three million over-65s believe they have become victims of fraud, according to research by Santander.
The study also saw a third of over-65s surveyed admit they are unfamiliar with most common types of fraud, while more than half say they are not concerned about fraud leaving experts worried that millions could be easily targeted.
The most frequent kind of fraud in Britain is debit/credit card fraud, which has already affected 17% of the UK’s over-65 population – some 2.3 million individuals.
Although 74% of over-65s are familiar with telephone scams, 48% are still concerned they could fall victim to it – a worrying statistic in light of the fact that these types of scams are becoming more prevalent.
The study by Santander also shows that adults worry about their parents being targeted by fraudsters, with almost 40% saying it’s a concern.
However, only a fifth (21%) admit that they advise their parents immediately after hearing about a type of fraud or scam. One in eight, say they never advise their parents of potential scams, whilst a similar number admit they warn them ‘rarely’.
So what should over-65s be aware of and what can their children do to help protect them? Watch the video with Peter Sissons sharing some tips on how to avoid being scammed.
30% of over-65s have been a victim of fraud
33% of over-65 year olds are unfamiliar with the most common types of fraud
39% of under-65s are concerned that their parents might fall victim to fraud
21% claim that they advise their parents immediately after hearing about a type of fraud or scam