Cuppa with a Coppa

How Can You Protect Your Money from Fraudsters?

The Northumbria Police Initiative, Banking Protocol, has helped prevent vulnerable people from handing over more than £1.6 million through their efforts to crack down on financial scammers. What other steps can you take to protect your money? 

Police experts on financial scams are warning that the already high number of older people reporting falling victim to fraudsters is likely the ‘tip of the iceberg’, with millions of cons going unreported each year. 

The most common type of cons targeted at older people are so-called ‘advanced fee frauds’, wherein the victim is convinced they’ve won a large amount of money (such as a lottery pay out), and are advised to pay an initial small sum of money to claim their prize, usually under the guise of an ‘administrative fee’. One man targeted by this type of scam, a farmer in his eighties, ultimately lost around £450 thousand over the course of six years.

Banking Protocol, the anti-fraud initiative set up by Northumbria Police, trains counter staff to identify and report any suspicious banking activity, meaning potential con artists can be caught in the act. The average age of victims identified by the programme is 69.  

Many older scam victims are reluctant to report their experiences, with studies indicating that a sense of shame about being tricked averts some from speaking out. Additionally, such scams are contributing to the loneliness felt by many of the older generation, who report losing confidence, and feeling more isolated, after their ordeals. Police have emphasised, however, that the high levels of sophistication involved in a lot of scams nowadays means that anyone can fall victim.

If you suspect you've been a victim of a scam you can visit the Action Fraud website, or contact them on 0300 123 2040.

Due to the Covid 19 pandemic,  Age UK North Tyneside's regular ‘cuppa with a coppa’ sessions in our Bradbury centre have had to be cancelled. However  as part of our ‘fear of crime’ campaign we have arranged for a Facebook Question and Answer session with representatives of Northumbria Police on Tuesday January 26th 2021 (at a time to be finalised). This is a chance to  discuss any issues or concerns you may have with your local Police officer and PCSO. 

For more information on how you can protect yourself from crime, including burglaries, ‘door-step’ scams, and computer hacking, visit our page on ‘staying safe at home’.