Many people think scams mostly affect older adults, but anyone of any age can be scammed.In fact, the numbers show that many scams are harming younger people more often.According to the Federal Trade Commission, people below the age of 59 were 34% more likely to get scammed in 2021.Younger adults reported losses to online shopping fraud – which often started with an ad on social media – far more than any other type of fraud.Younger adults were four times more likely to report a loss on an investment scam. Most of these were bogus cryptocurrency investment opportunities.This age group also reported losing money on job scams at more than five times the rate of older adults. The average reported fraud loss by people ages 18 to 59 was $500.When older consumers do fall for scams, they lose a lot more money.The FTC said the average loss for someone under 79 was $800. For those over 80, the average loss was $1,500.The younger the victim, the more likely they are to be conned on the internet and specifically through social media platforms.Remember this: No matter your age, learning about scams is important for everyone.
Many people think scams mostly affect older adults, but anyone of any age can be scammed.
In fact, the numbers show that many scams are harming younger people more often.
According to the Federal Trade Commission, people below the age of 59 were 34% more likely to get scammed in 2021.
Younger adults reported losses to online shopping fraud – which often started with an ad on social media – far more than any other type of fraud.
Younger adults were four times more likely to report a loss on an investment scam. Most of these were bogus cryptocurrency investment opportunities.
This age group also reported losing money on job scams at more than five times the rate of older adults.
The average reported fraud loss by people ages 18 to 59 was $500.
When older consumers do fall for scams, they lose a lot more money.
The FTC said the average loss for someone under 79 was $800. For those over 80, the average loss was $1,500.
The younger the victim, the more likely they are to be conned on the internet and specifically through social media platforms.
Remember this: No matter your age, learning about scams is important for everyone.
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