Elderly fraud victims are facing a “tidal wave of scams” with losses of over £7,938 a day, shocking new figures have revealed.

The figures were revealed through a Freedom of Information request by the Welsh Liberal Democrats to Action Fraud, covering all fraud cases where the victim was 65 or older over the past four years.

They show a staggering £11.6 million in Powys has been lost in total, meaning over-65s across Dyfed-Powys are losing £7,938 to fraud each day.

The analysis shows that elderly fraud is on the rise, jumping from 290 recorded cases in 2019 up to 1,231 cases in 2022.

Since the beginning of 2019, more than 4,243 cases of fraud against pensioners have been logged in Dyfed-Powys.

Welsh Lib Dems have accused the Conservatives of being “asleep at the wheel” in the fight against fraud, and called for an urgent strategy to protect victims including the vulnerable and elderly from online scams.

The Party has criticised the Conservative Government for shirking its responsibility to tackle fraud.

The Home Office has failed to publish the Fraud Strategy it promised in March 2022, which replaced 2021 plans for a national Fraud Action Plan that never materialised.

The party is demanding that the Government urgently publish its Fraud Strategy after months of delays; and are also calling for the creation of an Online Crime Agency that would coordinate work across the country on tackling online fraud.

Commenting on the shocking figures, Liberal Democrat Senedd Member for Mid & West Wales Jane Dodds said: “Elderly people across Dyfed-Powys are facing a tidal wave of scams, as callous criminals target them for their hard-earned cash. Yet too often, the despicable fraudsters who target vulnerable pensioners are being let off the hook.

“The UK Conservative Government is asleep at the wheel in the fight against fraud, and it’s our nation's elderly who are paying the eye-watering price.

“Conservative ministers need to finally publish their long overdue strategy to tackle fraud, including measures to protect elderly and vulnerable victims from online scams.”

“People need to know that if they have been a victim of fraud, they can go to the police and their case will be investigated.

“Right now, with these sky-high rates, many may see this as a hopeless exercise.”

“With pensioners in Dyfed-Powys losing over £7,938 to fraud each day, the cost of delay is unacceptable.”