Over-55s are key target for 'increasingly elaborate scams', FraudSMART initiative hears

Nora Owen, former Minister for Justice and FraudSMART older persons ambassador, Niamh Davenport, Head of Financial Crime, BPFI and Sergeant Georgina Reilly, Garda Older Persons Association. Picture: Shane O'Neill, Coalesce.

The number of text and investment scams targeting older people is on the rise and FraudSMART, the banking sector's fraud awareness initiative, has launched a new campaign to tackle the issue.

According to FraudSMART, over-55s are the key target for “increasingly elaborate scams” which seek investments of €20,000 and upwards.