Financial Conduct Authority
Inside the mind of a scammer: FCA reveals the tactics investment fraudsters use to deceive over 55s
The Financial Conduct Authority (FCA) is urging over 55s to check investment opportunities are genuine before they part with their money. This comes as new research*, commissioned as part of the FCA’s ScamSmart campaign, reveals that only two in five (42%) think they know how to spot a fraudulent investment opportunity. Fraudsters are targeting the growing over 55 population because they are more likely to have money to invest.
- Only two in five think they know how to spot an investment scam
- Half of over 55s surveyed agree you need to act quickly to get a good deal, an attitude exploited by fraudsters who offer time-limited deals
- A third of over 55s surveyed are reluctant to discuss their investment decisions with others, something that is seized on by fraudsters who encourage them to keep their offer a secret
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