Lonely older people are especially vulnerable to scams.
Elderly South Africans are especially vulnerable to high-impact financial and impersonation scams, particularly where loneliness, trust and retirement savings are involved.
Leslie Greyling, a financial advisor at Brenthurst Wealth Fourways, says older people are particularly vulnerable to scams and fraud, although those more used to technology tend to be more exposed because they use it more often.
Sharon Knowles, founder and chief executive of Da Vinci Forensics, says South Africa is facing a “quiet crisis” in which grandparents, retired neighbours and ageing parents are being targeted. Criminals do not simply exploit technical unfamiliarity but also loneliness, trust, financial anxiety and deeply ingrained social values, she says.
“Perhaps the most powerful tool in a cybercriminal’s arsenal is social isolation. Many South African seniors live alone, while children may have relocated to other provinces or emigrated abroad. Social circles often become smaller with age,” Knowles says.
