Stereotypical scam victim have been characterized as either elderly or uneducated, however, new research by the BBB shows that 69% of victims are under the age of 45, and 78% hold a college or graduate degree!
The truth is scammers are quite clever and are experts at gaining your trust—making all ages at risk of falling victims to scams.
RELATED: Real Estate Agent Jailed Over Fraud
One in four North American households each year is affected by scams, and annual losses to individuals and families are estimated at $50 billion, yet most consumers believe they are invulnerable. “Of those consumers reporting scams to BBB Scam Tracker, 89% of seniors (age 65 and up) recognized the scam in time, while only 11% reported actually losing money. For those age 18-24, however, more than three times as many failed to recognize the scam – 34% reported losing money.”
The takeaway – no one is immune from scams or identity theft. All of us are potential scam victims – regardless of age or education level. The best protection is to learn as much as you can about scams going on in your area and the tell-tale signs of a scam. Fore-warned is fore-armed.
For more information, go to “Invulnerability Illusion” Means Millennials More Likely to Get Scammed than Boomers.
To report a scam, go to the BBB Scam Tracker. To find trustworthy businesses, go to bbb.org.
Are you a victim of fraud or money scam? Share your story with us on the Money Credit and You Facebook page!
Original article published on WHNT.com.
