Analysis of more than 20,000 scams reported between April 2014 and March 2015 found that over a third (37%) of cold-call scams reported to the national charity were for professional and financial services.
One person was persuaded by a cold-caller to invest £100,000 into fine wines only to find they were worth less than half the amount he paid.
The charity found that almost half (46%) of all scams reported were made by people over 55.
This has prompted a warning that pensioners and those approaching retirement age are more at risk of scams, particularly in light of the recent pension reforms. One 54-year-old was contacted by a cold call offering to release money from her pension pot, and narrowly avoided losing £30,000.
Gillian Guy, chief executive of Citizens Advice, said: “Scams often prey on people’s most pressing needs. Bogus investments, fake debt remedies and fraudulent bank services can devastate people’s finances.
“The new pensions freedoms mean it is even more important that people think twice before responding to an unexpected call offering to release money from pensions or too-good-to-be true investments.
“Scams can thrive on silence. Con artists often try to pressure people into buying straight away, and not tell anyone about the deal. We’re urging people to talk about scams and report them to the authorities. This will stop scammers from getting away with it and avoid others falling foul of their cons.”
