Every week we receive tales of fraud, scams and rip-offs. The most distressing involve the callous exploitation of elderly savers, often through the telephone equivalent of "door stepping" where the scamsters won't hang up until they have fleeced their victim. But a tale we were sent this week is one of the most sickening I've heard. It involves a 75-year-old woman – we won't say her name – who was phoned by a firm, ostensibly in Dubai, that appealed not just to her vulnerability and naivety, but her good nature, too. The caller knew the lady had shares (how? she probably once had a holding in a privatisation or demutualisation, and names on share lists are swapped mercilessly between "boiler room" crooks). He convinced her to sell her existing shares – did she know they'd been under-performing? – and buy "carbon credits" instead. They're green, environmental and backed by governments around the world. What could go wrong?

The crook could scarcely believe his luck when she handed over half her life savings, £133,690. When, later, she thought better of it, the crook said she'd signed a contract and if she didn't pay up he'd pursue her through the courts. Under pressure, she paid up – and the money disappeared into an account in Williamsburg, New York. Once you have been stung once, they try to sting you again. She was pestered and persuaded to hand over a further £100,000 – a sum that would leave her virtually penniless – to an account in Coconut Creek, Florida. Thankfully, her son found out, and at the last moment halted the transfer.....Read more here: Hang up on sickening phone scams