The Money and Pensions Service said that, between April 2023 and March 2024, the 833 people who contacted a dedicated helpline lost a total of £13.6million
People calling a financial scams helpline over the last year have typically been conned out of more than £16,000, says a Government-backed body.
The Money and Pensions Service (MaPS) reported that from April 2023 to March 2024, the 833 individuals who called a dedicated helpline were swindled out of £13.6million in total. On average, each person was defrauded by £16,297.
Some of the most common frauds included identity theft, bank account scams, and bogus digital currency investments. MaPS also highlighted that among those who received pension guidance through its MoneyHelper service, 71% felt better equipped to identify potential scams after the call.
Charlotte Jackson, head of guidance services at MaPS, commented: “Sadly, financial crimes and scams are rife and it’s awful to see so much money being lost, but hopefully our appointments can give people more security and understanding when it comes to dealing with them in the future.”
