Are Millennials Most Prone Generation to Online Scams?

According to a recent report by the Better Business Bureau, millennials are the most likely generation to fall victim to online scams. The report found that people aged 18-34 were twice as likely as those aged 35 and older to have lost money to a scam in the past year.

So what are some of the most common scams that millennials are falling for?

Job Scams

With high levels of student debt and competition for jobs, it’s no wonder that many millennials are falling for job scams. These scams involve promising victims a well-paid job with little or no experience required, only to ask for an upfront payment for training or registration fees. If you’re looking for a job online, be sure to do your research to make sure the company is legitimate.

Romance Scams

With more and more people turning to dating apps to find love, romance scams are on the rise. These scams involve scammers pretending to be looking for a serious relationship, when in reality they’re only after your money. They may ask you to wire them money for travel expenses or start a bogus GoFundMe page in your name. Be wary of anyone who asks for money early on in a relationship (before you’ve even met in person).

Investment Scams

With the stock market being volatile, many millennials are looking for alternative investment opportunities. Unfortunately, this has led to an increase in investment scams. These scams involve scammers promising high returns with little or no risk, only to take your money and vanish. If someone is promising you guaranteed returns, it’s likely a scam. Be sure to do your research before investing any money.

Fake Free Trial Offers

Free trials can be a great way to try out a new product or service, but many millennials are falling for fake free trial offers. These offers seem like a great deal, but if you don’t cancel within the specified time period, you’ll be charged for the full product or service. Be sure to read the fine print of any free trial offer before signing up.

Social Media Scams

With so much of our lives being lived online, it’s no wonder that social media scams are on the rise. These scams can take many forms, from fake contests and giveaways to bogus news stories. Be sure to verify any information you see on social media before sharing it with others.

If you think you’ve been the victim of a scam, be sure to report it to the proper authorities. You can also check out the BBB Scam Tracker to see if others have reported the same scam. By being aware of these common scams, you can help protect yourself and your finances.

So, what can be done to protect Millennials from online scams?

For one thing, education is key. Millennials need to be made aware of the dangers of clicking on links from unknown sources and giving out personal information online. They also need to be taught how to spot a scam.

There’s also a need for better security measures. Companies need to do a better job of protecting their customers’ data, and they need to make it harder for scammers to get their hands on that data in the first place.

And finally, we need to be more vigilant as a society. We need to be on the lookout for scams, and we need to help each other when we see them happening. Only by working together can we hope to protect ourselves from these digital predators.

For extra protection against scams, consider working with an managed IT service provider. They can help you stay up-to-date on the latest security threats and make sure your systems are as safe as possible.

Ultimately, though, it’s up to each individual Millennial to stay safe online. By being careful and by educating themselves about the dangers of scams, they can protect themselves and help to keep the rest of us safe as well.

Chris Turn