Millennials Scammed More Than Their Grandparents

When you think of scam victims, the elderly are usually the first to come to mind. However, they are not at the top of the list. Leading the way are millennials. 

The numbers show 40% of those in their twenties lost money to a fraudulent scheme, while only 18% of those 70 and older were conned out of their dough according to the Federal Trade Commission’s databook of consumer complaints,.

However, although twentysomethings were victims, they actually lost less money than the older generation. Data shows adults in their seventies lost, on average, $621, and those over 80 lost $1,092, while those between 20 and 29 only lost about $400. 

Overall, there were 2.68 million complaints from consumers about fraud last year, which is down from 2.98 million in 2016. 

Source: USA Today.

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