Age UK & Lloyds Banking Group: Project Olaf

Client: Age UK

Since 2022 Lloyds Banking Group and Age UK have partnered through Project Olaf, a pioneering initiative that repurposes seized criminal assets to protect those most vulnerable to scams. With many millions of pounds in frozen criminal assets predicted to be locked away in UK banks, Lloyds Banking Group remains the only financial institution repurposing these funds to support victims of fraud.

Two people aged 65+ are being scammed every minute in England and Wales. With no national support provision for older victims, Age UK launched their Scams Prevention and Support Programme in 2022 with funding from Project Olaf. Since then, over 67,000 older people have received support through one-to-one advice and community awareness sessions across 16 communities in England & Wales. Additionally, over 1,000 call-blocking units have been distributed, preventing over 75,000 scam calls and saving vulnerable households more than £1 million.

97% of those supported report improved understanding and confidence in their ability to spot and report a scam. Building on learnings from the first four years in partnership, a further £2 million investment will extend this support through to 2027, enabling deeper community engagement and increased national reach, supporting over 62,000 more older people through local and national