Individuals Are Losing £87,000 A Day To Binary Options Fraud
£87,410 lost to binary options fraud every day in the UK with more frauds taking place online.
The success comes as a result of a scheme which gave vulnerable and elderly people devices which block the phone calls.
More than 100,000 scam phone calls to the vulnerable and elderly have been blocked in a year, as a result of a £500,000 project, announced by Prime Minister Theresa May last April, saw 99% of unwanted calls halted.
Thousands of devices were given to people at risk, including those with dementia.
Between May 2017 and April 2018 108,918 calls were not accepted.
The devices will not allow recorded messages, silent calls and calls from numbers not pre-identified by the homeowner.
Eight in 10 had felt worried and 60 per cent felt threatened or scared.
After the blockers were installed this fell to 17 per cent and 10 per cent.
Trading Standards’ Louise Baxter said: “Nuisance phone calls have a huge impact on emotional and physical health, not to mention financial losses.”
Digital Minister Margot James said: “We are determined to end the plague of nuisance calls ruining elderly and vulnerable people’s lives. Only last month we laid out plans to make bosses of rogue companies personally liable for up to £500,000 if their firm breaks the law.”
It is estimated that over five years the 1,500 call blockers given out will save consumers and taxpayers £18million.