Saturday 21 July 2018

Same old tricks on the elderly

IS the slick assistant manager who sells an elderly person an unsuitable financial product any better than the rogue tradesman who charges 10 times the correct price for a mended roof, or the thug who forces his way past a frail, lone householder and ransacks his or her home?

The Financial Services Ombudsman sent secret agents, aged between 72 and 79, into 20 banks, investment firms and stockbrokers, seeking advice on what to do with their money. Most of the people they encountered advised them properly, but four institutions attempted to sell them products that would have tied up their savings for years.

It beggars belief that these well-dressed crooks could still engage in such trickery after so much has happened.

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