your money
Helping you spend wisely and save more, with money expert Faith Archer
NEWS YOU CAN USE
Stay vigilant when shopping, as nearly two thirds of scam victims over 65 have fallen for a purchase scam.
Purchase scams occur when criminals trick people into buying something that looks good but doesn’t actually exist.
Fraudsters use phone calls most often to target unwitting consumers (26 per cent), closely followed by Facebook and other social media channels (24 per cent) and email (20 per cent), according to research by Feedzai, the financial crime and risk management solution.
Nearly a third (29 per cent) of the victims surveyed had lost between £501 and £10,000 due to a scam, but the damage isn’t only financial.
Caroline Abrahams, charity director at Age UK, says, “At Age UK, we see too many examples of older people who have lost money they could ill afford and whose self-confidence and wellbeing have been permanently damaged as the result of being a victim of fraud.”
Protect yourself by shopping at legitimate websites and checking deals that are publicised on social media and by email are from a trusted source. Be wary of requests for payment by unconventional methods such as wire transfers or gift cards, rather than using a normal credit or debit card. Avoid messages that ask for personal information or prompt you to click on a link to get a deal. These could be ‘phishing’ attempts, designed to steal your details.
MAKE MORE OUT OF LESS
Take advantage of Valentine’s Day meal deals at major supermarkets to enjoy a restaurant-style meal in the comfort of your own home. Typically y
