The extent of the damage is increasing enormously: fraudsters defraud seniors of 675 million francs per year

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Fraud, theft, scam. There are many ways fraudsters cheat seniors out of money. A survey commissioned by Pro Senectute estimates that almost four in five people over the age of 55 have been targeted by criminals in the past five years. One in five people became a victim of fraud.

The research was conducted by the Institute for the Combating of Economic Crime (ILCE) of the Neuchâtel University of Applied Sciences. More than 1200 people were interviewed.

More internet fraud due to Corona

The study’s authors estimate that fraudsters steal approximately R675 million from seniors every year. That is 275 million francs more than in the first study from 2018. While the extent of the damage increased, the number of victims decreased slightly. This means that fewer seniors fall victim to fraud, but the damage is much greater for those affected.

According to the institute, a reason for the greatly increased damage could be the corona pandemic. During this time, people relied more on trust relationships, “which likely encouraged financial attacks with very high damage.”

Fraud by professionals who abuse their position is the type of abuse that deprives seniors of the most money. It is estimated that 255 million francs are stolen annually. Seniors are also deprived of a lot of money by abusing a power of attorney or accessing their bank account.

New phenomenon of shock calls

In addition, fraud has increasingly moved online as a result of the pandemic. 52 percent of respondents had been affected by attempted fraud on the internet in the past five years. The number has almost doubled compared to 2018. For example, almost one in three people have received phishing messages, that is, fake emails or text messages with the intention of fraud.

A relatively new phenomenon are the so-called shock calls. Seniors receive a call from a stranger who tells them, for example, that their daughter has been involved in a serious accident and is in custody. To release her, they had to post a bond. According to law enforcement authorities, fraudsters stole almost eight million francs in this way from January to August this year alone.

Seniors are more sensitive

For the study, the ILCE asked survey participants about a total of 32 types of fraud. It remains unclear how many seniors have fallen victim to fraud without even realizing it. “There is certainly an unreported number,” said Peter Burri Follath, spokesperson for Pro Senectute Switzerland. However, it is impossible to estimate how large this is.

He notes that seniors’ susceptibility to fraud has increased in recent years – “but at the same time, unfortunately, the professionalism of fraudsters has also increased.”

Based on the research results, Pro Senectute wants to further optimize its awareness campaign. It is important that the subject is discussed. While more is being done, overall there is still not enough done, says Burri Follath. (lha)

Source:Blick