Millennials More Likely to Fall for Online Scams than Seniors

By Tracey Dowdy

New research from the Federal Trade Commission shows that Millennials are now more likely to fall for online scams than seniors. While the number of fraud complaints dropped in 2017, the amount of money consumers lost was greater.

The Consumer Sentinel Network Data Book 2017 includes complaints from 2.68 million consumers. In 2016, 2.98 million consumers submitted complaints about identity theft, phone and lottery scams as well as other types of consumer fraud.

According to the report, Millennials (ages 20- 29) submitted 40% of the total fraud complaints to the FTC last year. Contrast that with just 18% from those ages 70 and older. In fact, further research from the Better Business Bureau indicates that contrary to stereotypes, Millennials are more vulnerable to online scams than other demographics.

How is that possible? This is the generation that grew up with technology in the palm of their hands. This is the demographic that is thought to be more tech savvy and Internet aware than their parents and grandparents. Well, according to findings by leading think tank Policy Network,

younger people are disproportionately the targets of online financial fraud for two primary reasons: optimism bias and a greater willingness to share personal information online.

Millennials’ optimism bias leads them to believe that others are more at risk than they are, which leads them to be less suspicious of suspicious online activity. That leads to the second issue – because of their self-confidence, they’re more comfortable sharing personal information like birth dates, e-mail addresses and their mothers’ maiden names.

Monica Vaca, associate director of the FTC’s Division of Consumer Response and Operations, points out that younger generations may be less aware of what scams have been around for a while than seniors. “Some of these older folks are doing a really good job recognizing fraud when they come upon it. They’re doing a really good job avoiding a loss and they want to warn people about it,” she says.

One important difference is that while fewer seniors are falling for scams, they’re hit harder when they are duped. Consumer Reports suspects as much as $3 billion is stolen from seniors by scammers every year.

Though fraud reports dropped in 2017, consumers reported higher losses overall. In total, consumers were defrauded to the tune of $905 million last year, which represents a 7% increase over 2016. However, those losses were concentrated and hit individuals hard – only 21% of consumers who made a complaint to the FTC reported a loss. When seniors lost money, they lost more: a median loss of $621 for those in their 70s, but a median loss of $400 for millennials.

Protect yourself and your family. The FTC has a page dedicated to informing consumers about Scam Alerts. Trust your instincts – if a deal seems to be too good to be true, it probably is. And beware of anyone or any organization asking for personal information like banking details or passwords.

Tracey Dowdy is a freelance writer based just outside Washington DC. After years working for non-profits and charities, she now freelances, edits and researches on subjects ranging from family and education to history and trends in technology. Follow Tracey on Twitter

Comments:

  1. I’m curious to find out what blog platform you happen to be using?
    I’m experiencing some minor security issues with my latest
    blog and I would like to find something more safe.
    Do you have any recommendations?

  2. When some one searches for his required thing, thus he/she wishes
    to be available that in detail, therefore that thing is
    maintained over here.

  3. Hello! I know this is kinda off topic but I was wondering
    if you knew where I could find a captcha plugin for my comment form?
    I’m using the same blog platform as yours and I’m having difficulty
    finding one? Thanks a lot!

  4. Hello there! Quick question that’s completely off topic. Do you know how to make your site mobile friendly?
    My site looks weird when viewing from my iphone.
    I’m trying to find a theme or plugin that might be able to
    correct this problem. If you have any suggestions, please
    share. Many thanks!

  5. My programmer is trying to persuade me to move to
    .net from PHP. I have always disliked the idea because of
    the costs. But he’s tryiong none the less. I’ve been using Movable-type on numerous websites for
    about a year and am nervous about switching to another platform.
    I have heard good things about blogengine.net. Is there
    a way I can import all my wordpress posts into it? Any kind of help would be really appreciated!

  6. Nice blog here! Also your website loads up fast!

    What host are you using? Can I get your affiliate link to your host?
    I wish my site loaded up as quickly as yours lol

  9. Thanks for any other magnificent article. The place
    else may anyone get that kind of info in such a perfect approach of writing?
    I’ve a presentation next week, and I’m on the look for such information.

  10. I’m not that much of a internet reader to be honest but your sites
    really nice, keep it up! I’ll go ahead and bookmark your
    site to come back down the road. All the best

  11. You’ve made some decent points there. I checked on the internet to find out more
    about the issue and found most people will go along with your views on this
    website.

  12. My brother recommended I might like this blog. He used to be totally right.
    This post actually made my day. You can not consider simply
    how a lot time I had spent for this information! Thank you!

  13. Excellent items from you, man. I’ve keep in mind your stuff previous to
    and you’re just too great. I actually like what you have acquired here, certainly
    like what you are saying and the way in which in which you are saying it.
    You make it entertaining and you still care for to stay it sensible.
    I can’t wait to learn much more from you. This is really a terrific website.

  16. Hey! Someone in my Facebook group shared this site with us
    so I came to give it a look. I’m definitely enjoying the information. I’m book-marking and will be
    tweeting this to my followers! Wonderful blog and great design.

  18. Excellent blog you have got here.. It’s difficult to find high-quality writing like
    yours these days. I really appreciate individuals like you!
    Take care!!

  20. Howdy! This post could not be written any better! Reading this post reminds me
    of my previous room mate! He always kept chatting about this.
    I will forward this article to him. Fairly certain he will have a good read.

    Thank you for sharing!

  24. Write more, thats all I have to say. Literally, it seems as though you
    relied on the video to make your point. You clearly
    know what youre talking about, why waste your intelligence on just posting videos to your weblog when you could
    be giving us something informative to read?

  25. Simply wish to say your article is as astonishing.
    The clarity on your put up is simply spectacular and that
    i could think you are a professional on this subject.
    Well with your permission let me to grasp your feed to keep updated with imminent post.
    Thank you one million and please continue the rewarding
    work.

  26. Hi, I do believe this is an excellent blog. I stumbledupon it 😉 I
    will come back yet again since I bookmarked it.
    Money and freedom is the best way to change, may you be rich and continue to help other people.

  27. Incredible! This blog looks exactly like my old one!
    It’s on a completely different topic but it has pretty
    much the same layout and design. Superb choice of colors!

  28. I’m not sure exactly why but this blog is loading very
    slow for me. Is anyone else having this issue or is it a
    issue on my end? I’ll check back later and see if the problem
    still exists.

  32. After exploring a number of the articles on your web page, I honestly appreciate your technique of writing a blog.

    I book marked it to my bookmark website list and will be checking back soon.
    Please check out my web site too and let me know your opinion.

  37. Hello! I’ve been following your web site for a while now
    and finally got the courage to go ahead and give you a shout out from Houston Tx!
    Just wanted to tell you keep up the fantastic job!

  38. You’re so cool! I do not think I have read through something like
    that before. So wonderful to discover another person with a few original thoughts on this subject.
    Seriously.. thank you for starting this up. This web site is something that
    is required on the web, someone with some originality!

  39. magnificent points altogether, you simply
    received a new reader. What may you recommend about
    your submit that you simply made a few days ago? Any certain?

  40. Hello There. I found your weblog the use of msn. This is a really well
    written article. I will be sure to bookmark it and return to read extra of your helpful info.
    Thanks for the post. I will certainly return.

  43. It is not my first time to go to see this site, i am visiting this web site dailly and take pleasant data from here every day.

  45. Do you mind if I quote a few of your articles as long as I provide credit and
    sources back to your weblog? My blog is in the exact same area of interest as yours and my visitors
    would really benefit from some of the information you present here.
    Please let me know if this alright with you. Thank you!

  47. I do believe all of the ideas you’ve introduced in your post.
    They’re really convincing and can definitely work.
    Nonetheless, the posts are very short for starters.
    May you please lengthen them a bit from next time?
    Thanks for the post.

  48. Hi, i think that i saw you visited my web site thus i came to
    “return the favor”.I’m attempting to find things to
    enhance my website!I suppose its ok to use a few of your ideas!!

  49. Heya are using WordPress for your site platform? I’m new to the blog world but I’m trying to
    get started and create my own. Do you require
    any coding knowledge to make your own blog? Any help would be really appreciated!

  51. I quite like looking through a post that can make men and women think.
    Also, thank you for allowing me to comment!

  54. You could definitely see your expertise in the work you
    write. The sector hopes for even more passionate writers such as you who are not afraid to mention how they believe.
    At all times go after your heart.

  55. Hello There. I found your blog using msn. This is a really well
    written article. I will make sure to bookmark it and come back to read more
    of your useful info. Thanks for the post. I’ll definitely return.

  56. Do you have a spam problem on this blog; I also am a blogger, and I was wondering
    your situation; we have created some nice procedures
    and we are looking to swap techniques with other folks, please shoot me an email if
    interested.

  57. Hey there! Do you know if they make any plugins to assist with Search Engine Optimization?
    I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good gains.
    If you know of any please share. Kudos!

  58. Wonderful blog! I found it while browsing on Yahoo News. Do you have any suggestions on how to
    get listed in Yahoo News? I’ve been trying for a while but
    I never seem to get there! Thanks

  59. Good day I am so happy I found your webpage, I really found
    you by mistake, while I was looking on Aol for something else, Regardless I am here now and
    would just like to say thanks for a marvelous post and a all round thrilling blog (I also love
    the theme/design), I don’t have time to read through it all at the moment but I
    have saved it and also included your RSS feeds, so when I have time
    I will be back to read more, Please do keep up the awesome b.

  62. You could definitely see your expertise within the work you write.
    The arena hopes for even more passionate writers like you who are not afraid to
    say how they believe. At all times go after your heart.

  65. I’m not that much of a internet reader to be honest but your
    sites really nice, keep it up! I’ll go ahead and bookmark your website
    to come back later. Cheers

  66. What’s up to every body, it’s my first visit of this webpage; this weblog contains
    awesome and actually good information for readers.

  67. It’s hard to find well-informed people in this particular
    topic, however, you sound like you know what
    you’re talking about! Thanks

  68. Heya! I just wanted to ask if you ever have any trouble
    with hackers? My last blog (wordpress) was hacked and I ended up losing
    months of hard work due to no backup. Do you have any methods
    to protect against hackers?

  71. Having read this I thought it was really enlightening.
    I appreciate you taking the time and effort to put this
    article together. I once again find myself spending a significant amount of time both reading and leaving comments.
    But so what, it was still worthwhile!

  72. Hey there, You have done an excellent job. I’ll definitely digg it and
    personally recommend to my friends. I am confident they will be benefited from
    this site.

  73. I like the helpful info you supply in your articles.
    I will bookmark your blog and take a look at once more
    right here regularly. I’m slightly sure I will learn many
    new stuff right right here! Good luck for the following!

  75. Thanks a bunch for sharing this with all folks you actually understand what you are
    speaking about! Bookmarked. Please also discuss with my
    site =). We may have a hyperlink exchange agreement among us

  76. Good day! I know this is kind of off topic but I was wondering if you knew where I could find a captcha plugin for my comment form?
    I’m using the same blog platform as yours and I’m having problems finding one?
    Thanks a lot!

  77. Thanks for your marvelous posting! I definitely enjoyed reading it, you’re
    a great author. I will be sure to bookmark your blog and will often come back later in life.
    I want to encourage you continue your great work, have a nice morning!

  78. When I originally left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and now every time a comment is added I receive 4 emails with the exact same comment.
    There has to be a way you are able to remove me from that service?

    Thanks!

  79. I am sure this piece of writing has touched all the internet users,
    its really really fastidious paragraph on building up
    new weblog.

  80. I have read several good stuff here. Definitely worth bookmarking for revisiting.
    I surprise how much attempt you place to create any such
    excellent informative web site.

  83. I am really glad to glance at this web site posts which
    carries plenty of valuable information, thanks for providing such information.

  84. I’m amazed, I have to admit. Rarely do I
    encounter a blog that’s both educative and amusing, and let me tell you,
    you have hit the nail on the head. The issue is something which not
    enough people are speaking intelligently about.
    I am very happy I found this during my search for something concerning this.

  85. What’s up i am kavin, its my first occasion to commenting anyplace, when i read this article i thought i could also make comment due to this good paragraph.

  86. Wow, superb weblog layout! How lengthy have you ever been blogging for?
    you made running a blog look easy. The total glance
    of your site is fantastic, let alone the content!

  87. Hi there! I could have sworn I’ve been to your blog before but after looking at some of the posts I realized it’s new to me.
    Anyways, I’m definitely delighted I found it and I’ll be bookmarking it and checking
    back often!

  88. I’m really impressed with your writing skills as well as with the layout on your blog.
    Is this a paid theme or did you customize it
    yourself? Anyway keep up the nice quality writing, it’s rare to see a nice
    blog like this one nowadays.

  89. I’m not sure why but this site is loading very slow for me.
    Is anyone else having this problem or is it a issue on my end?
    I’ll check back later on and see if the problem still
    exists.

  90. Howdy! This post couldn’t be written much better!
    Going through this post reminds me of my previous roommate!
    He always kept talking about this. I will forward this article to him.
    Pretty sure he’ll have a great read. Many thanks for
    sharing!

  91. I’m very pleased to discover this great site. I wanted
    to thank you for your time due to this wonderful read!!

    I definitely appreciated every bit of it and I have you book-marked to see new information in your
    blog.

  92. Thanks , I have just been searching for information about this subject for ages
    and yours is the best I have found out so far.

    But, what concerning the bottom line? Are you certain concerning the supply?

  94. Good day! I could have sworn I’ve been to this site before but after browsing through
    some of the post I realized it’s new to me. Anyhow, I’m definitely glad
    I found it and I’ll be book-marking and checking back often!

  95. Hello, I do believe your web site could be having internet browser compatibility
    issues. Whenever I look at your site in Safari, it looks fine however when opening in IE,
    it has some overlapping issues. I just wanted to give you
    a quick heads up! Apart from that, wonderful blog!

  96. My partner and I absolutely love your blog and find most of your post’s
    to be exactly I’m looking for. can you offer guest writers to write content for you personally?

    I wouldn’t mind writing a post or elaborating on a lot of the subjects you
    write concerning here. Again, awesome blog!

  98. After exploring a few of the articles on your web site, I seriously like your
    technique of blogging. I added it to my bookmark site list and will be
    checking back soon. Please check out my website
    too and tell me what you think.

  101. It is the best time to make some plans for the future
    and it is time to be happy. I have read this post and
    if I could I want to suggest you few interesting things or
    advice. Perhaps you could write next articles referring to this article.
    I wish to read even more things about it!

  102. This web site certainly has all the information and facts I needed concerning this subject
    and didn’t know who to ask.

  103. I simply couldn’t depart your website before suggesting that
    I really enjoyed the usual info a person provide on your guests?
    Is gonna be again steadily in order to check out new posts

  104. I just like the valuable info you provide on your articles.

    I will bookmark your blog and test once more right
    here frequently. I am quite sure I’ll learn plenty of new stuff proper
    right here! Good luck for the next!

  105. When I originally commented I clicked the “Notify me when new comments are added” checkbox and now
    each time a comment is added I get several e-mails with the same comment.
    Is there any way you can remove me from that service?

    Appreciate it!

  108. 08:21. Puba The Pornstar Network: Alison Tyler plus Capri Cavanni.
    Alison Tyler Capri Cavanni. 4 months ago. 08:03.
    Large tits pornstar Alison Tyler rough cock sucking. Alison Tyler.
    4 years ago. 12:00.

  110. Hi there everybody, here every person is sharing these kinds of know-how,
    so it’s fastidious to read this weblog, and I used to go to see this web site daily.

Leave a Reply

Your email address will not be published. Required fields are marked *

Recommended Articles

School Bullying: Privacy vs. Protection

How To Spot Fake GoFundMe Pages

Facebook Groups Help Deal with ‘Mom Guilt’

Taking the Time for Self-Care

How to Improve Your Instagram Photos