Why the Cost of Living Crisis is Costing Elder Adults MORE

The heatwave is over, but it seems that Britain will not run of reasons to cool down anytime soon. 

On Wednesday, it has been reported that the UK’s inflation rose to a 40-year high of 9.4%. This comes after the price hikes on electricity, water, fuel, and even food. 

Unfortunately, this is also the same factor behind a number of scams and fraud have been a recent activity in the country, mainly hitting elder adults. 

Amidst the cost of living crisis,  one of the biggest chances for you to get scammed is if you are asked to pay bills via bank transfer.

It is one of the least secure and reversible methods of payment, so it is not advisable to utilise unless you are utterly certain of who you are trying to deal with.

Don’t sign up for something at the last minute; instead, do your homework first. 

Reminder number 1, do not buckle to any pressure from others. Most scams work well because they can convince you that you would lose out if you don’t take action right away.

Whatever the circumstance, it is always worthwhile to take five minutes to consider whether or not you are working with a con artist.

Second, stalk the potential stalkers. Be bigger than them. The best course of action if is to look up the organisation’s contact information on their website, then get in touch with them directly to confirm the claim’s validity.

Businesses frequently have published warnings for clients about scams to be on the lookout for since they are aware of them. Even emails that appear to be authentic should be carefully examined.

Third, double check. Hovering your cursor over the email address will allow you to determine if the sender’s address is real. 

Fourth, do not be fooled by names. Never assume that you are receiving text messages from your bank, the NHS, or the police just because the message appears in a stream of other texts from the company or based on the Caller ID.

Criminals can “spoof” phone numbers to make people believe they are receiving calls from reputable businesses.

Fifth, do not just click on links. Fraudsters will frequently ask you to click a link to a bogus website to submit some personal information in scam emails and messages as well. 

Prevention is better than cure. Having a few minutes to double check websites, text messages, and e-mail addresses will cost you nothing but assurance and safety.

Unlike the heatwave, the cost of living won’t be over anytime soon – so make sure that every transaction you make, and every information you provide will not burn the money in your bank.