Two new surveys, just released in the UK, show that experienced investors are more likely to fall victim to a financial scam. It comes down to "overconfidence," according to one report published by Exeter University.
In the other, released by trading standard officers, 35% of people targeted by fraudsters are over 65. And 41% of the people in that age group did not understand how that fraudsters could use personal details in passports, driving licenses and mortgage applications to steal from them.
Two of the most common crimes aimed at this age group are "land-bank purchase" scams, where residents are persuaded to pay large sums for small plots of Green Belt land to be reclassified so that they can be resold as valuable building plots; and "boiler room frauds" where brokers target shareholders who own worthless or high-risk shares.
In the other, released by trading standard officers, 35% of people targeted by fraudsters are over 65. And 41% of the people in that age group did not understand how that fraudsters could use personal details in passports, driving licenses and mortgage applications to steal from them.
Two of the most common crimes aimed at this age group are "land-bank purchase" scams, where residents are persuaded to pay large sums for small plots of Green Belt land to be reclassified so that they can be resold as valuable building plots; and "boiler room frauds" where brokers target shareholders who own worthless or high-risk shares.
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