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Explore The Following Staggering Statistics

The following statistics highlight the pressing issue of telecom and financial fraud, particularly affecting older adults.

From the startling frequency of scam attempts to the significant impact on victims' health and finances, these figures underline the importance of awareness, vigilance, and protective measures. Explore these insights to understand the critical need for enhanced security and support in the fight against fraud.

Age UK

Older adults are particularly vulnerable to fraud, with a new victim every 40 seconds and 5 million seniors targeted annually. Alarmingly, those over 65 who fall victim are 2.5 times more likely to suffer premature death. These statistics underscore the critical need for enhanced protection and awareness among older populations.

An older person becomes victim to a fraud attempt every 40 secondsAlmost 5 million people aged 65 and over - believe they have been targeted by scammersPeople defrauded in their own homes are 2.5 times more likely either to die or go into residential care within a year

Met Police

The Metropolitan Police emphasise the prevalence of financial fraud in sectors like banking, payment cards, investments, and pensions. This highlights the importance of vigilance and protective measures to safeguard personal finances against sophisticated fraud schemes.

Banking, payment card, investment and pension fraud

UK Finance

According to UK Finance, telecoms fraud accounts for 43% of all financial losses, surpassing online fraud which stands at 30%. This data points to the significant threat posed by telecom scams and the necessity for robust preventive strategies.

43% of losses stemmed from telecoms fraud, compared to 30% online. Annual Fraud Report 2024

TransUnion

While TransUnion reported in 2022 that email phishing was the dominant method, with 43% of victims targeted through their inboxes compared to 28% via phone, the landscape has shifted significantly. A 2024 Phonely poll reveals that 39.4% of respondents were scammed through telephone calls, outpacing the 29.9% who fell victim to email scams.

Phone Scams Surpass Email as Leading Fraud Method in 2024, Reversing TransUnion's 2022 Findings

Phonely Surveys

Phonely's surveys reveal that 39.4% of scam victims were targeted via phone, while 59.6% of people are unaware of the upcoming PSTN switch-off. Additionally, 94.6% rarely or never answer unknown numbers, reflecting widespread cautiousness and the need for increased awareness and education.

39.4% of scam victims were targeted by phone59.6% of people unaware of the PSTN switch-off94.6% of people never are rarely answer unknown numbers

Re-engage

Recent data from Re-engage shows that two-thirds of older adults have been targeted by scammers in the past year. This statistic highlights the persistent and growing threat of scams targeting the elderly, underscoring the need for ongoing vigilance and support.

Two out of three older people have been targeted by scammers in the last year.

Phonely won the Most Innovative Small Business award

Award-Winning Digital Voice & Scam Protection Service!

Phonely is proud to be recognized as a 2024 Small Business Awards winner by Business Awards UK. This accolade acknowledges our commitment to innovation, excellence, and dedication to protecting our customers from fraud.