OFT calls for more protection for elderly consumers

The Office for Fair Trading (OFT) has launched a campaign to help protect elderly consumers from becoming victims of scams.

Findings from the body revealed that older consumers are likely to lose twice as much as other consumers who fall victim to offers such as bogus lotteries, deceptive prize draw and sweepstakes.

Mike Haley, OFT Director of Consumer Protection, said that scammers use sophisticated psychological techniques to target the more vulnerable members of society such as those afflicted by illness or who are socially isolated.

“Those who fall for these scams not only lose their savings, but often live in fear, suffering debt and depression and are too afraid to tell anyone of their plight,” he added.

OFT has unveiled a new leaflet for carers and care professionals, ‘Can you stop the person you care for from being scammed?’ and an accompanying leaflet, ‘Don’t Let them Con You’ to try and increase awareness of scammers.

According to research, up to three million consumers fall victim to scams every year which is estimated to cost the public £3.5 million.

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