The Office of Fair Trading today launches Scams Awareness Month. Its aim is to 'highlight the hidden misery of thousands of elderly and vulnerable consumers'.

Every year three million Britons fall victim to scams sent by post, email, text, telephone and the internet. Scams cost the UK public an estimated £3.5billion a year. With its campaign the Office of Fair Trading wants to highlight the "hidden misery of thousands of elderly and vulnerable consumers who repeatedly fall victim to scams" such as bogus lotteries, deceptive prize draw and sweepstakes, and 'miracle' health cures.

Elderly often hit hardest

Research by the Office of Fair Trading indicates that although anyone can fall for a scam, elderly people are often hit hardest. Older victims are likely to lose nearly twice as much money per scam as others.

Victims are often socially isolated, over-trusting or "afflicted by illnesses such as dementia", and can be repeatedly targeted by the scammers. Many lose their life savings and suffer depression and ill health as a result.

The Office of Fair Trading is working with organisations such as Carers UK, Help the Aged, Age Concern, Citizens Advice, and Local Authority Trading Standards Services to raise awareness of the plight of elderly serial victims of scams and provide advice on how to recognise and help such victims.

Mike Haley, OFT Director of Consumer Protection, said: "Scammers use sophisticated psychological techniques to target people who are often the most vulnerable in society. Those who fall for these scams not only lose their savings, but often live in fear, suffering debt and depression and being too afraid to tell anyone of their plight. We want to ask family members, carers and others to help spot the warning signs before it is too late."

Daniel Blake, Policy Development Manager, Action on Elder Abuse, said: "Scammers operate through a ruthless circle of psychological and financial abuse. They gain people's trust and exploit fears, insecurities and pain to steal as much money as they can from those who can least afford it. We are supporting this campaign to empower consumers and their support networks to stamp out scams."

Links

The OFT has published two new leaflets for carers and care professionals:

• Don't let them con you (PDF, 189KB).
• Can you stop the person you care for from being scammed? (PDF, 532KB); and