"He Lost £10,000 at 18": Protecting Your Child from Devastating Scams
One mistake cost Oliver Wright everything. His tragic story shows why talking to your children about online scams isn’t optional—it’s essential.
Oliver's Heartbreaking Story
The Trap
At 18, Oliver was promised quick returns for a small investment.
Within three days, scammers drained his entire £10,000 savings.
The Aftermath
Five years of emotional suffering followed this devastating loss.
His mother said simply: “His heart just broke.”
The Warning
Scams don’t just cost money. They can cost mental health.
Thousands of young people fall victim every year.
Why Young People Are Vulnerable
Desire for quick results
Scammers exploit their impatience for fast money.
Still developing risk assessment
Even older teens struggle to spot manipulation.
Tech-savvy isn’t scam-savvy
Digital skills don’t equal fraud detection skills.
Young brains are still developing. The prefrontal cortex—responsible for decision-making—isn’t fully mature until age 25.
Recognise the Warning Signs
"Act quickly or miss out"
Urgency is a classic pressure tactic used by scammers.
"We'll double your money"
If it sounds too good to be true, it almost certainly is.
"Keep this between us"
Requests for secrecy are major red flags.
Poor spelling or urgent language
Professional organisations don't send poorly written messages.
Start the Conversation Today
Share Real Stories
Use Oliver's story to show this can happen to anyone.
Teach Red Flags
Make spotting scam tactics a family skill.
Normalise Asking for Help
"Even adults fall for scams. Always check with me."
Discuss Emotional Manipulation
Kindness online doesn't equal trustworthiness.
Practice Makes Protection
Social Media Offers
Money for simple tasks from unknown accounts.
Fake Investments
Opportunities from "influencers" promising huge returns.
Suspicious Jobs
Roles requesting bank details before starting.
Too-Good Offers
Unbelievable deals requiring immediate payment.
Build Financial Safety Habits
Regular Statement Checks
Teach them to review transactions weekly.
Spotting unusual activity early can prevent bigger losses.
Two-Factor Authentication
Set this up together on all financial apps.
This simple step blocks most unauthorised access attempts.
Spending Limits
Consider daily withdrawal or spending limits.
This creates a safety net against rapid account draining.
Scam-Checking Tools
Introduce them to official reporting websites.
The UK’s Action Fraud site can verify suspicious communications.
Remember: It's Not Just About Money
Prevention
Regular conversations about scams build resilience.
Recovery
Help them understand money mistakes don’t define them.
Support
If they’re scammed, focus on emotional support—not blame.
Support
If they’re scammed, focus on emotional support—not blame.
Oliver’s story should never be repeated. By keeping these conversations ongoing, we can protect both our children’s finances and their mental wellbeing.