Understanding the Impact of Financial Fraud on Older People

Addressing financial vulnerability - Understanding the impact of financial fraud on older people

Panel:

Chair: Sir Brian Pomeroy CBE

- Former Chair of the Treasury’s Financial Inclusion Taskforce and senior independent director of the Financial Conduct Authority.

Speaker: Joanna Legg

- Head of Department at Financial Conduct Authority (FCA). Joanna leads the Department responsible for coordinating the FCA’s work on vulnerability and financial inclusion, its response to the rising cost of living, and the Financial Lives Survey.

Speaker: Jim Winters

- Director of Protect/Head of Economic Crime of Nationwide. He has over 25 years’ experience in economic crime leadership. Prior to joining Nationwide Jim was Fraud Managing Director at Barclays UK.

Speaker: Joanna Elson CBE

- Chief Executive of Independent Age, Director of UK Finance and former Chief Executive of the Money Advice Trust.

Independent Age is the leading UK charity working to address financial hardship in older age. The growing volume of calls we have been receiving to our helpline has highlighted the devastating impact fraud can have on older people’s financial, emotional and physical wellbeing. We want to explore this issue with the financial services sector so that we can work collectively to increase awareness and understanding.

We are holding a webinar on Wednesday 5th June 2024 where we will present new research on the scale of financial fraud and its specific impact on the lives of older people. Alongside a panel of experts from the financial services sector, we will collectively increase our understanding and can begin to work together to fight this issue by helping to identify and manage the fall-out from financial fraud and scams.

Why this is vital for financial services firms

Through regulation such as Consumer Duty, the FCA is asking financial services firms to better understand vulnerable customers, including older people, and deliver good outcomes for them. This webinar therefore comes at a crucial time. Through new research and insight, it will help firms understand the devastating effects of fraud on this group. It will also enable participants to engage in the conversation around how we can better engage with older people when fraud occurs and, where possible, mitigate its impacts.

To join the conversation, and to hear from representatives from leading regulators, the financial services industry and academia, register now.