People born before 1974 face having £2,022 wiped from bank account

People born before 1974 face having £2,022 wiped from bank account
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Older people born in certain years risk losing cash from their bank account - with Moira Stuart warning over nearly being scammed. The Classic FM presenter, 75, told the Times she felt “absolutely devastated, embarrassed and angry” with herself after she fell for a phone call from a scammer.

Former BBC news presenter Stuart was told by the scammer money had been taken from her account by someone in collusion with staff at her local bank branch. She was advised to go to a different branch to resolve the problem, while the scammer stayed on the line – telling Stuart that she needed to make a bank transfer.

Fortunately, the bank’s cashier realised Stuart was being scammed, and the call was ended before any money was taken. Stuart said: “If you’re very independent, as I am, it feels like you have let yourself down, your family, everyone who knows you.”

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She has now teamed up with AbilityNet and BT Group to warn people aged 55-64 face the highest number of scams. And Age UK warns over 50 - born in 1974 and earlier - said they’d been scammed in the last five years, losing an average of £2,022.

And of those who lost money, 22% never recovered it. “Many scammers are highly sophisticated criminals and it’s easy for anyone to be tricked by them,” warns Caroline Abrahams, charity director at Age UK. “Age UK is warning that older people – particularly those who live alone or with cognitive impairment – are at greater risk of becoming victims to certain scams.

“Financial losses are common and are bad enough, but being scammed can also seriously affect people’s quality of life and wellbeing. Many older people who are victimised experience a deep sense of shame, embarrassment, depression, social isolation and a decline in physical health, with some even losing their independence following a scam.”

Lucy Walsh, a digital skills trainer for AbilityNet, agrees older people can be more at risk from financial scams, and says: “Younger people are much better at deciphering information when it’s sent to them digitally, they understand if something looks fake, whereas when older people see something in print they believe it because it looks so professional.

“On top of that, they have more fear of anything financial. Older people have worked hard, saved hard, and are very protective of their money. So when they see something that says you owe us money, or you must pay us or something dreadful will happen, it really tugs on their heartstrings.”