A quarter of people aged 70 or above have suffered financial abuse, according to a new survey which details the shocking scale of the problem.
The report - by new financial service GuardianCard, whose co-founder’s mother-in-law was frauded - also reveals that more than half (56%) fear they’re more of a target for thefts, scams and frauds due to pandemic.
Covid, financial pressures and social isolation have created a ‘perfect storm’ with older people even more dependent on carers, family and friends and at greater risk of financial abuse from loved ones, rogue traders and professional scammers.
Financial abuse of the elderly can include having money or property stolen, being defrauded, being put under pressure in relation to money or other property or having money or property misused.
It can be as simple as a carer, relative or...