November 17, 2021

Why won’t banks help protect over 70s from falling victim to fraud?

Alan Wilkinson is a retired gas safety inspector from Lancaster. He was diagnosed with Alzheimer’s disease last year after suffering memory problems for eight years and is struggling to live independently.

His son, Oliver, has been doing his best to help take care of him. But it has since come to light that in a horrifying example of exploitation, the 71-year-old has been ruthlessly hounded by scammers.

At one point, he was receiving as many as 50 cold calls a day from crooks encouraging him to invest in everything from wine and gold to art.

Victims aged over 70 have lost a devastating £425.3m to fraud since May last year, according to reporting service Action Fraud. And those aged between 90 and 99 reported £80.8m stolen

And the relentless siege of calls has cost him his £120,000 retirement nest-egg.

Yet, devastatingly, Alan is far from alone, and thought to be one of tens of thousands of vulnerable pensioners who have been…

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