1st December 2022
Scams To Beware Of
Around one-fifth (21%) of those who have or know someone who has been contacted by scammers believe they have lost money as a result. However, among those aged 18 to 34, this proportion rises to 46%.
The average loss due to scams for themselves/someone they know was approximately £207, with this sum nearly doubling to £361 for those aged 18 to 34 compared to £112 for those aged 55 and older.
With so many families trying to make ends meet and the cost of living continuing to rise, providing fast access to your pension may seem like the ideal way to get out of difficulties. The reality is that you cannot access your pension savings before age 55, hence it is highly likely that it is a fraud. Follow the simple rule of thumb: if anything seems too good to be true, it is almost always a scam. To keep your money safe from the scammers, simply walk away, hang up, or delete the email or text.
- 51% of UK adults, or 27 million people, have received or know someone who has received a questionable message in the last 12 months.
- Younger people are more likely to know someone who has lost money and to know someone who has lost more money than older generations.
- Eight percent of conversations are to pension transfers.
Tomorrow we will look at the first five of ten tips to help you identify and avoid financial scams, be sure to visit us again. Please contact us for more information on how we can help protect your future financial well-being and the options available to you.
Source data:  Source: Research among 2,000 UK adults conducted by Opinium, with fieldwork between 12–16 August 2022.