Fraudsters have conned pensioners out of £750,000 this year alone using an old-style phone scam, the UK Cards Association has revealed.The trade association is warning consumers to be aware of the scam which involves cardholders being called and duped into handing over their debit or credit card, and revealing their PIN, by a fraudster pretending to be from their bank, card company or the police. In 2011, more than £750,000 has been lost to this type of fraud, with the criminals responsible stealing an average of £10,000 per incident.

Fraudsters will call cardholders, typically claiming to be from the prospective victim’s bank, and saying either that their systems have flagged up a fraudulent transaction on their card or that their card is...Read more here--> Fraudsters target pensioners with old-school scam