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More than a million over-45s have fallen victim to email scams, according to Aviva’s latest Real Retirement Report.
With the Government currently consulting on a cold calling ban to “cut off a key source of pension scams”, the findings highlight the importance of tackling digital security as the industry moves towards greater online management of people’s life savings.
Aviva’s findings suggest almost three in four (73%) over-45s with internet access have been targeted by an email scam. Of these, 6% or 1.24m reported falling victim to an approach.
In comparison, 60% of over45s – equivalent to almost 17m in total – have been targeted by fraudsters via phone calls, with 7% of those (1.19m) saying they were a victim of scammers.
With more than 20m people targeted by email scams compared with 17m via phone, it means there is a 22% higher chance of over-45s being subject to an online approach.
Older generations are most at risk, with over-75s most likely to be targeted by fraudsters via email (76% vs. 73% of over-45s) as well as telephone (69% vs. 60% of over-45s). Over-75s are also most likely to have fallen into the trap of an email scam.
Over-75s are most at risk of being targeted by fraudsters, with 76% approached by email exceeding the 69% who have been targeted by phone scams
Almost one in four (24%) over75s say technology makes them feel vulnerable.
Despite concerns, over-45s consider themselves “tech adopters” with seven in 10 willing to embrace new technology.
Many say technology has made their life easier, with the most impact felt on finances.