As part of its ScamSmart campaign, the Financial Conduct Authority (FCA) has lifted the lid on some of the commonest tactics investment fraudsters use to deceive those they target over the age of 55.
According to the financial watchdog's latest research, barely two-fifths (42%) of that age group reckon they know how to spot an investment scam. The FCA said one of the most popular methods used by fraudsters is to pressurise potential victims to make a quick decision on the investment ‘opportunity'. The regulator found more than half (53%) of over-55s believed acting quickly can be essential to obtaining a good deal, which it said demonstrates just how vulnerable people can be to the tactic. Investment fraud victims do not get off lightly either, losing £32,000 on average, accord...
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