Santander reports 75% of investment fraud involves people aged over 55 losing an average of £8,000 each
Santander has revealed that only a third of Scots said they know what an investment scam is.This is when a scammer offers someone a fake but convincing opportunity to make a profit by handing over a sum of money.Some £8,000 is lost on average by Scots to an investment scam with a fifth (18%) of Scottish adults admitting that they know someone, or have themselves been affected by an investment scam. To highlight the dangers of investment scams, Santander has teamed up with national treasure, Pam Ayres, and performance poet Suli Breaks to turn financial crimes into rhymes ahead of National Poetry Day on October 1.