
The elderly could be suffering a ‘silent epidemic’ of fraud after it emerged the over-70s have lost almost £1 billion over the past three years.
And experts fear the true figure could be higher, as many pensioners are too scared to report crimes or don’t realise they’ve been a victim.
Money Mail analysis of Action Fraud figures reveals scam victims aged over 70 lost about £977 million in total between April 2019 and 2022.
‘Silent epidemic’: Our analysis of Action Fraud figures reveals that scam victims aged over 70 lost almost £977 million in total between April 2019 and 2022
The very elderly, aged between 90 and 99, reported £116 million stolen, an average of £6,097 each.
And this is despite the age group accounting for 19,059 of the total 178,772 cases logged among the over-70s.
People in their 20s and 30s typically reported the most incidents of fraud, but their losses averaged less than half those of the over-90s, at £2,391 — £825 million over the same period.
Of all age groups, it was victims in their 50s who suffered the biggest total loss in each one of the three years, Action Fraud’s figures show.
Professor Keith Brown, formerly of Bournemouth University and an expert in safeguarding adults, says: ‘The fraud that occurs among elderly people who live alone is under-reported.Many older victims are too ashamed to come forward.
‘And vulnerable elderly people, such as those with dementia, are at higher risk as they are unlikely to realise they have been scammed.
‘It’s a silent epidemic.If you have elderly relatives, or people you care for, you can almost assume they are going to be a victim.’
The Daily Mail revealed last month that Britain has become the fraud capital of the world and is campaigning for a major overhaul to the system.
When confronted with this investigation on LBC radio, technology and minibola digital economy minister Chris Philp admitted fraud is a ‘huge problem’ and — ‘shockingly’ — still growing.
<div class="art-ins mol-factbox money" data-version="2" id="mol-6859b890-0772-11ed-912c-13460a9a1fa6" website epidemic' of elderly fraud: Victims too scared to come forward






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