People with dementia are being cheated out of at least £100 million per year, experts claim.
The Alzheimer's Society has estimated that up to 15 per cent of people with dementia have experienced financial abuse, such as cold calling, scam mail, or misselling.
As a result, the charity is calling on the government, Trading Standards and banks to institute better protections for people with dementia, by appointing dementia champions to increase awareness.
Jeremy Hughes, chief executive at Alzheimer's Society, stated: "Too often con artists are dealing another body blow to people who already face high care costs and a society that fails to understand their needs.
"It's only by working together with banks, local authorities and, of course, the general public that we can turn this around."
According to research, older adults are also at risk of financial abuse, specifically over the Christmas period and must be informed of the warning signs of scams.
Find out about dementia care and support services at Barchester care homes.