Four in 10 over-65s who have been scammed say they have kept the crime a secret from their family, a survey has found.
Nearly a third (29%) older people surveyed by Barclays said they have been scammed – losing an average of £817.
But 39% have kept the crime secret from their family, with many not wanting to “cause a fuss” or worry them.
Ross Martin, head of digital safety at Barclays, said: “Scammers are trying to take advantage of older people’s reluctance to open up about these incidents, which can cause huge emotional and financial turmoil.”
Barclays has teamed up with a south London rap duo – pensioners Pete and Bas who are both aged in their 70s – to create a track to encourage more conversations about scams.
The tune, called Bank Account Details Please, tells cold-calling scammers asking for personal details to “jog on”.
Barclays’ research also found that 28% of older scam victims said they felt embarrassed after the incident, and nearly one in five (18%) felt sad or depressed as a result.
The research involved a survey of more than 2,000 over-65s.