‘We all have a responsibility towards tackling social isolation’: City MP on financial scamming and those most vulnerable

City MP Stephen Morgan was invited to speak at a special Financial Scamming Event today organised by Paul Murray Investments.

The event was held at the Marriott Hotel in Paulsgrove and aimed to bring local businesses, charities and local authorities together to support the cause of standing against financial scamming.

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Speaking at the event Stephen Morgan MP said:

“The elderly and socially isolated are vulnerable to financial, emotional and psychological harm from criminals who target them with the full range of scamming.

The average age of a victim is 63, and men and women are equally susceptible to being targeted.

More than a million older people say they go for over a month without speaking to a friend, neighbour or family member, and evidence suggests that this can make people more vulnerable to financial scammers.

There is already some great work going on to support those who may be at risk. Age UK, and Age UK Portsmouth where I’ve been a trustee, along with their other campaigns to support those who feel socially isolated, have an initiative for example for volunteers to become digital champions to offer this very support.

Hampshire Constabulary have developed a banking protocol which encourages staff working in branches to recognise the signs of a potential scam. This has stopped more than £130,000 being handed over to potential scammers last month alone.

However, to tackle this issue we all need to be willing to step in and make a difference.

We all have a responsibility towards tackling social isolation.”