The Scale of the Problem
Scams cost the UK economy £5-10 billion a year (Annual Fraud Indicator) and have devastating effects on those who are targeted. Scams are often targeted specifically at those who may find themselves in vulnerable circumstances (such as a period of bereavement, loneliness, financial difficulties etc.)
Although anyone can be a victim of a scam, the average age of victims identified from victim lists seized by the National Trading Standards Scams Team is 76.
Click here for the scale of the problem
- 53% of people aged 65 plus have been targeted by scams.
- Scams are the product of organised, predatory criminals who gain trust to exploit and steal money.
- Scam victims might not always admit (or be aware) that they are a victim of a scam. Only 5% of victims report the crime (Age UK 2015).
- People can end up losing their life savings.
- Victims' details are added to so-called "suckers lists"* which are sold to other fraudsters.
- Victims may also suffer from stress, relationship and health problems brought on by losing money.
- Victims have been known to suffer from physical risks, loss of their home, depression, and even some have contemplated, or attempted suicide.
- Raising awareness of scams can help with early identification of such victims and ensure that they receive timely intervention using a multi agency approach where needed. Multi agency approaches will be discussed in a later chapter.
* Please note: "Suckers list" is a term used by criminals to refer to the direct mailing lists they compile when targeting people that are likely to respond to scams. The NTS Scams Team prefer to use the term "victims list" as the word "sucker" can be quite degrading.