Pensioners lost more than £51million to fraud committed by people in positions of trust during the 2025/26 financial year, according to new figures from the City of London Police. The data shows that people aged 70 and over accounted for more than £51million in reported losses from fraud by abuse of position.
Losses across all age groups
Across all age groups, the crime resulted in £93.8million in reported losses, with 3,812 reports made nationally. Fraud by abuse of position occurs when someone uses their responsibility or access to another person's finances to steal money, property, or other assets. Those involved can include family members, friends, carers, or people trusted to manage someone's financial affairs.
People aged between 80 and 89 were particularly badly affected, losing almost £24million. This age group also accounted for the highest number of reports.
Police warning and typical cases
Detective Superintendent Oliver Little, from the City of London Police, said: "These offences can have a devastating impact because they are committed by people who have been trusted to act in the victim's best interests." Police found that some cases involved relatives or friends stealing bank cards, obtaining banking details, or making unauthorised transfers.
There were also 764 reports involving the misuse of powers of attorney, with reported losses reaching £34.6million. A further 444 reports involved social care workers allegedly abusing their position, resulting in losses totalling £13.3million.
Advice for families and reporting
Police are urging people to check the finances of elderly relatives they support and look out for transactions they do not recognise. Other warning signs include unpaid bills, missing possessions, and unexpected changes to a bank account or will.
Anyone who spots suspicious activity should contact the person's bank or card provider as soon as possible. Concerns about an older person's safety can also be raised with the local authority's adult social care team. Suspected fraud can be reported through the official Report Fraud website or by calling 0300 123 2040.
