The fraudsters preying on pensioners

The report found nearly 75% of attempted frauds were via telephone

A new study has revealed the prevalence of telephone fraud - particularly targeting people over the age of 75.

One victim who took part in the University of Portsmouth study said they received suspected scam phone calls on average twice per day and they had "come to suspect everybody".

Two-thirds of nearly 2,000 respondents described experiencing at least one fraud attempt in the past six months and nearly 75% of attempted frauds were via phone.

Study author Prof Mark Button said the impact of these scams has not yet been "seriously investigated".

The 18-month study also found that 40% of participants said they faced daily, weekly, or monthly scams.

Other methods like email, post, and social media were used less frequently, according to researchers.

Prof Button, from the University of Portsmouth, said: “It was interesting to see how older technologies like landline telephones are still being used on an industrial scale to conduct frauds.

"These telephone calls have become for some older adults something they experience on a daily or weekly basis.

"Even though many older adults understand these are frauds and quickly hang up, for some, these attempts have significant impacts."

'Terrible experience'

One person who fell victim to scammers was a 78-year-old widow, who the report called Dorothy.

In 2019 she received a scam call, and she remembered: "Someone said they were from my bank and that there was unusual activity on my account and I should withdraw my money and place it somewhere else."

Dorothy's husband of 50 years had just died and she said she was feeling "incredibly vulnerable" and "wasn't thinking clearly" at the time.

She followed the advice of the scammers and wrote out cheques to move her money.

Dorothy lost £100,000 which the bank said it was unable to retrieve for her because she had signed the cheques.

In 2022, after Dorothy reached out to the Financial Ombudsman she was able to get most of the money back.

“It was a terrible experience I wouldn’t wish on anyone,” said Dorothy.

Researchers said the study highlights the critical need for better awareness and action to safeguard the vulnerable.

They called for the introduction of effective countermeasures such as "high-standard call blockers" and training on how to use them.