Money management
Fraud affects people of all ages, but for older adults, the financial and emotional stakes can be a lot higher. From suspicious phone calls and deceptive emails to long-term online scams, fraudsters are becoming more sophisticated in their tactics, especially when targeting those in, or approaching, retirement.
Why? Because retirement can bring changes that scammers are quick to exploit. After years of working and saving, people may have built up pensions, investments and savings, changes in circumstances, such as retirement itself, bereavement or living alone are common. Scammers will try to take advantage of these moments.
They’re also skilled at making their stories sound convincing, often impersonating familiar organisations or authority figures to gain trust. Combined with pressure to act quickly, this can make an unexpected request much harder to assess,
That’s why it’s important to stay informed, feel confident, and know what to look out for.
How to protect yourself
Whether you’re protecting your own finances or supporting a loved one, here are three key steps to follow before making any payment or sharing personal information:
- Stop – Pause before responding to any unexpected request.
- Challenge – Ask yourself: does this make sense? Is it really who they say they are?
- Protect – If something feels wrong, hang up immediately, contact your bank and report it to Action Fraud.
If you’ve experienced or suspected fraud, you’re not alone. Speaking up can make a real difference and help prevent further harm.
Trusted resources
There are excellent resources out there designed specifically for older adults who want to stay informed and safe. For example:
- Age UK’s scam and fraud programme offers practical advice and emotional support.
- Action Fraud is also the UK’s national reporting centre for fraud and cybercrime.
And of course, we’re here for you too.
If you think something’s amiss, talk to us
If you think you’ve spotted a fraud, block your card and report it immediately to your Wealth Adviser or our client services team. If something doesn’t feel right, trust your instincts.
If you are ever unsure, Nedbank Private Wealth clients can contact us at +44 (0)1624 645000 (Monday to Friday, 7am to 6pm UK time, except for UK public holidays) or +44 (0)20 8167 3223 outside these hours.
For more tips and advice, visit our Protect Yourself from Fraud page.
