Thread by @Telegraph

📱What are the biggest scams mostly likely to trick midlifers?

As you get older you are less likely to suffer from fraud.

However, those aged between 40 and 59 are generally the group that lose the most when they do fall victim

Thread 🧵
telegraph.co.uk/money/consumer…

Younger customers might lose a few pounds to a fake item listed on an online marketplace…

But wealthier midlifers are instead targeted for their entire savings 🏦

💔 The biggest scam to target midlifers is the romance or dating scam, according to police data.

More than 40% of romance fraud victims are aged 40 to 59

Romance scams are infrequent compared to other scams, but they are among the most devastating financially.

➡️ Victims lost an average of £9,000 to such frauds

📈High-interest investment is the second biggest scam for midlifers

A scheme protected by the Financial Services Compensation Scheme with a regulated bank or building society is unlikely to serve up more than 1-2% in returns

📞You might be rung by a salesperson, sent an email out of the blue, or stumble across an ad for an investment that is offering more

The losses to these criminals can be devastating.

❌Figures show these fraud victims lost an average of £15,700

More than a third of banking hack victims are midlifers, who may fall for pressurised calls from impersonators of banks, the police and others.

❓Those concerned about this scam should make sure they always question the person who has called them

Scammers rely on knowing things about you to pose as someone you trust and win you over.

You can catch them out by asking for information only a real caller would know

Find out how to protect yourself here ⬇️
telegraph.co.uk/money/consumer…