New research shows scammers are targeting young people

(NEWS10) - A lot of scam warnings focus on protecting older adults, but the Better Business Bureau reports young adults are losing more money to scams compared to older Americans. The new report is based on data submitted to the BBB Scam Tracker between January 1, 2022, and June 24, 2023. According to the report, [...]

(NEWS10) - A lot of scam warnings focus on protecting older adults, but the Better Business Bureau reports young adults are losing more money to scams compared to older Americans. The new report is based on data submitted to the BBB Scam Tracker between January 1, 2022, and June 24, 2023.

According to the report, employment schemes make up almost 30% of scams reported by the age group, followed by online purchase scams. Online purchase scams made up 29.1% of all reports submitted by 18 to 24-year-olds, with 81.4% reporting a monetary loss.

According to the report, the riskiest scams for 18 to 24-year-olds is as follows:

1. Employment
2. Online purchase
3. Cryptocurrency
4. Rental
5. Investment
6. Fake check/money order
7. Phishing
8. Romance
9. Advance fee loan
10. Credit repair/debt relief

In previous years, the 18-24 age group reported a lower median dollar loss than older age groups.

According to the BBB, ages 18-24 were more likely to report being targeted by text message or internet messaging than other age groups. The contact methods with the highest likelihood of a monetary loss (susceptibility) included website and social media.