They say that moving house and divorce are two of the most stressful things you can go through. But maybe there is a more modern activity that’s capable of rivalling both of these put together. Falling for a scam.

Sadly, fraudsters are clever people. It’s a shame they don’t channel their abilities for the benefit of all of us, but they don’t. Instead they prey on the vulnerable, often the more elderly members of society living alone. And they are so convincing.

Some fraudsters will try to infiltrate your computer systems. You try your best with virus protection, but often that’s not enough. Dealing with the outcome of that is stressful enough, but it’s nothing compared to the rogue phone calls designed to empty your bank account or take away your hard earned savings, on which you are relying in your later life.

The initial call will generally suggest that the caller is from the police, telling you that you have been caught up in a fraud. You are offered the chance to check what you’re being told, by calling 999 or 101 with the details they have given you. The fraudster hasn’t hung up, of course, so when you make that call, you are straight back through to them.

They go on to suggest that the only way in which they can catch the ‘criminals’ is to set them up by using money you have withdrawn from your savings accounts. You go to the bank or building society, draw out used notes and hand them over to the ‘policeman’ you’ve been talking to. It’s the last you’ll hear from them and the last you’ll see of your money.

The fraudsters tell you that you mustn’t tell another soul. And that’s where a lot of the stress can come in. You desperately want to tell your nearest and dearest or check it out with someone else, and therefore put yourself through the anguish of whether to ignore ‘the policeman’s’ specific instruction.

I think the banks and building societies have a greater role to play in ensuring that it’s not easy to withdraw large sums of cash unexpectedly. But it’s essentially down to you to protect yourself. Think about implementing safeguards on the withdrawal of money from your account. If you do feel the need to talk to these people, make the checking call back from a different phone. But best of all, put the phone down in the first place and just don’t get involved.

Happy New Year!