It may not come as a shock to many people, but fraudsters and confidence criminals are targeting the elderly in a bid to scam money. A survey conducted by online payment processor uKash has shown that one in four carers know an elderly person that has been scammed, and half are worried that somebody they know will be targeted. These figures obviously do not take into account those carers that may know victims that are too embarrassed or too proud to admit to have been defrauded, so the figure is likely to be much higher.
Fraud can take many forms, including insurance and identity fraud. One form that has risen dramatically recently, according to uKash, is that of PPI claims fraud. The Payment Protection Insurance debacle has hit the headlines and enjoyed considerable media and press coverage. Nuisance calls and cold calls offering to claim on a consumer’s behalf have become part and parcel of daily life for many people. However, while some of these calls may be considered a nuisance, most of them do, at least, manage the claims process. In the case of fraudulent calls, the caller will demand an up-front payment but will not provide any service to the victim whatsoever.
Unfortunately, uKash itself has unknowingly and unwittingly become a weapon in the fraudster’s armoury. Many callers will state that they are unable to take bank or credit card payments. Sometimes they will take bank details, and then clear out bank details, or they may demand uKash vouchers, which can be cashed in thousands of shops or ATMs around the country. The uKash team has said that they work very closely with law enforcement to help capture and put a stop to those fraudsters that use uKash vouchers, and they advise that people should only use their service with reputable retailers and online.
Fraud levels have risen to new heights in recent months and years, especially following the recession. Criminal gangs and fraud rings have set up shop around the country, and while the anti-fraud teams and police investigators do everything they can to prevent the problem, it continues to pose a risk for people of all ages, but especially the elderly.