November 17, 2021
Scam/Fraud

The Young Fall for Scams More Than Seniors Do. Time for a Warning.

If you’re a digital native and consider yourself immune to all scams, the thieves have you right where they want you.

For years now, the Better Business Bureau’s survey research has shown that younger adults lose money to swindlers much more often than the older people you may think of as the stereotypical victims. The Federal Trade Commission reports similar figures, with 44 percent of people ages 20 to 29 losing money to fraud, more than double the 20 percent of people ages 70 to 79.

The Better Business Bureau’s latest report revealed a new twist: When criminals redoubled their efforts as homebound people spent more time online last year, they succeeded in bringing the median loss per scam for adults ages 18 to 24 to the same level — $150 — it was for the much more flush 65-plus crowd.

When we look at the kinds of scams that work on young people, there’s nary a Nigerian prince in sight. The targeted activities vary…

Read full article here: www.nytimes.com