Telephone fraudsters who target the over-55s

OVER-55s are four times more likely to fall victim to telephone scams, new figures reveal.

Reports of so-called vishing scams — where fraudsters pose as the police or a bank and trick victims into handing over their personal details — are on the rise.

In 200 cases investigated by the Financial Ombudsman Service, eight in ten of the victims were aged over 55. Together, they were conned out of more than £4 million.

When fraudsters call, they often advise their victim to hang up and ring their bank back — but they stay on the line. So while the victim thinks they are talking to their bank, they are actually handing over personal details to a criminal.

Some vishers ask their target to transfer money into a supposedly secure account over the phone, while others send a courier to collect cash from their house.

People are being urged to warn vulnerable relatives, friends and neighbours of the dangers of scam calls.

In most instances, banks will not refund money lost to this type of con as it has been stolen and is not their fault. But victims can ask the financial ombudsman to investigate.

In four out of ten cases, the ombudsman rules that the bank has not done enough to protect the customer and orders them to pay back the money.

If you think you have received a scam call, report it immediately to Action Fraud on 0300 123 2040 — even if you haven’t handed over any money. If you have lost money and your bank has refused to refund it, call the financial ombudsman on 0800 0234 567, or write to the Financial Ombudsman Service, Exchange Tower, London E14 9SR.