The hidden misery of thousands of elderly and vulnerable consumers who repeatedly fall victim to scams was highlighted today by the Office of Fair Trading.
Target: The elderly are seen as a soft touch by scammers
As it launched the 2008 Scams Awareness Month, the OFT said protecting the elderly from ruthless operators was one of the main themes of this year's campaign.
Every year an estimated 3m UK consumers fall victim to scams sent by post, email, text, the phone and internet.
Bogus lotteries, deceptive prize draws and sweepstakes, fake psychics and 'miracle' health cures cost the public more than £3bn a year.
Anyone can fall for a scam but the elderly are often hit hardest - OFT research shows older victims are likely to lose nearly twice as much 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 OFT has today unveiled a new leaflet for carers and care professionals, 'Can you stop the person you care for from being scammed?' and an accompanying leaflet, 'Don't Let them Con You', which can be downloaded on the OFT website.
The watchdog is working with partners such as Carers UK, Help the Aged, Age Concern, Citizens Advice, Action on Elder Abuse, Neighbourhood Watch, housing associations 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.
Those who care for older people are being asked to look out for warning signs that the person may be a scam victim:
• Do they for receive a lot of junk mail?
• Is their home full of cheap-looking goods such as jewellery or health products?
• Do they receive frequent calls from strangers?
• Do they become secretive when discussing finances with family and friends?
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 are 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 with 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.'
SOURCE: ThisIsMoney (UK)
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These scammers operate in the same manner, wherever they are. To prey on the vulnerable elderly, they can only be described as "scums of the earth".
Older persons, who had been scammed, often are too embarrassed to report or tell others about their bad experiences.
If you have had that sort of experiences, please do not be afraid to tell someone, or to ask for help. You have a right to some forms of restitution. Your speaking out, can also stop others from falling into the same trap; and perhaps even to help throw some of those scammers into jail.
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