What The Tech: Who is most likely to get scammed? The answer might surprise you
BY JAMEY TUCKER, Consumer Tech Reporter
It may come as a surprise, but younger adults can be more likely than seniors to lose money to
scams.
In 2024, for example, people ages 20 to 29 reported losing money more often than people 70 and older.
One reason is simple: younger people spend so much of their lives online.
They shop online, date online, bank online and look for jobs online. That gives scammers plenty of opportunities to reach them. The scam might begin with a fake online store, a phony job offer or a message that appears to
come from a government agency, bank or law enforcement officer.
Some scammers call pretending to be police officers or detectives. They may claim your identification was found in a stolen vehicle or connected to a crime, then ask you to “confirm” personal information such as your name, address or Social Security number.
Teenagers face another growing threat
For teenagers and young adults, sextortion is another serious danger.
A scammer may pose as someone their age and persuade the victim to send an intimate photo.
Once the picture is sent, the scammer threatens to share it with friends or family unless the
victim pays.
Scams targeting older Americans look different
Older adults are frequently targeted with tech-support scams and other schemes involving
computers and financial accounts.
A scammer may call claiming there is a problem with a computer and ask for remote access.
Once connected, the scammer may attempt to steal personal information or convince the victim
that money needs to be moved.
Older victims are also more likely than younger people to report losses involving tech-support
scams, prize and sweepstakes scams, romance scams and government impersonation scams.
Gift cards remain another common warning sign. Legitimate businesses and government
agencies generally will not demand payment with gift cards.
Younger people may fall for scams more often, but seniors can lose more
That is the important distinction.
FTC data shows older adults report losing money to fraud at a lower rate than younger adults.
But when older victims do lose money, their individual losses tend to be much larger.
For some victims, scammers go after retirement accounts and savings accumulated over
decades.
The bottom line is that scams are not just a problem for seniors.
Whether you’re 19 or 90, be suspicious when someone unexpectedly asks for money or
personal information. Slow down before responding, and do not assume a caller, text message,
email or social media account is legitimate simply because the person seems to know
something about you.
The person most likely to get scammed may not be your parent or grandparent.
It could be you.
