Over half of people who are classified as high-net-worth-individuals (HNWIs) have admitted they have been tricked by a financial scam in recent years.
This figure rises to almost two-thirds of wealthy individuals who have assets of more than £2million.
As part of their research into financial scams and fraud in the UK, Saltus Wealth Index spoke with 1,000 people who had assets over £250,000 to determine how they have been impacted by financial crimes in recent years.
Around 36 percent of those who had wealth between £250,000 to £1million said they had fallen for financial scams.
This number rose sharply to 41 percent for individuals whose assets came to around £500,000 to £1million.
More than half of people (53 percent) with assets totalling between £1-2million have also lost hard-earned cash to fraudsters.
Women were found in the study to be slightly more likely to say they have been victim to financial scams than men.
Out of all the age demographics, Generation X, were revealed to be most likely to be report being targeted by fraud.
Mike Stimpson, a Partner at Saltus, explained how people can protect their pensions and other assets from being targeted by scammers.
Mr Stimpson said: “We all know that professional advice can help you achieve your financial goals, but one of the lesser known – but hugely important – benefits of having a financial adviser is that they can also help…