People over the age of 65 are the most likely to be targeted by share fraudsters, a new survey shows.
Statistics compiled by the Financial Services Authority (FSA) suggest that 35 per cent of those targeted by share fraudsters last year were over the age of 65.
Furthermore, 23 per cent of those questioned fear they could also become victims of the scam this year.
Michelle Mitchell, charity director for Age Concern and Help the Aged, said: "All too often older people are the target of scammers and this is why a strategy designed to protect older people is so important.
"Older people have worked a lifetime to save what money they have and to see that money stolen is simply unacceptable."
Additional statistics show that nearly half of people do not feel they have sufficient knowledge to be able to protect themselves from fraud, while 41 per cent fail to realise they could have their identity stolen from personal details stored in driving licences and passports.
Unisys Security Index recently discovered that adults in the UK are most likely to worry about, fraudulent use of their credit and debit cards, identity theft and national security.