FCA receives more than 2,000 reports of scams in six months

Predominantly targeted were older investors, with one-fifth (22%) of over-55s, with above average incomes, and one-third (32%) of over-75s believing they have been targeted by an investment scam in the last three years. Recent pension freedoms and low interest rates offering poor returns on savings were making pensioners an increasingly attractive target for fraudsters, the FCA said. On average, victims of investment fraud lost £32,000 each last year, it added. The FCA had already warned of scammers looking to defraud the older generation in May, when it found those over the age of 65...