Millennials more likely to report losing money to fraud than people 40+

People in their 20s and 30s (Millennials) are more likely to report losing money to fraud than people 40 and over, new FTC data spotlight reports. FTC says people sometimes think scams mostly affect older adults, but reports to Consumer Sentinel tell a different story.

The top 5 frauds affecting Millennials are:

  1. Online shopping frauds;
  2. Business imposters;
  3. Government imposters;
  4. Fake check scams;
  5. Romance Scams.

According to FTC, Millennials are twice as likely as people 40+ to report losing money while shopping online, and frequently, shopping-related reports to the FTC are about items that are never delivered or aren’t as advertised.


Read more