Scammers Prey on 'Invincible' Millennials

Millennials may be easy targets for scammers due to snap decisions and a feeling of invincibility.

New research from the Better Business Bureau is shattering the stereotype of your typical scam victim. 

Their research shows Millennials are actually more vulnerable to scams than Baby Boomers and older. CEO of the Better Business Bureau serving Western Ontario including Oxford County Deborah Brady says there are a number of reasons why Millennials are more likely to be scam victims. 

"They have the invincibility belief. So they always think these things won't happen to them, they make their decisions very quickly, and perhaps because young people don't feel at risk they are more likely to be at risk because they are not taking precautions." 

Another reason is because the OPP and others have spent so much time teaching Baby Boomers and seniors about how to protect themselves from scams.

Brady says normally when you think of a scam victim you think of a the "little old lady" with white hair and that is simply not case. 

"It turns those stereotypes upside down completely and there is about even frequency on people being contacted by scammers." 

The study's co-author Emma Fetcher who is the Product Manager with the BBB Institute says we've bought into stereotypes about scam victims.

"They're usually seen as vulnerable and elderly, or gullible and poorly educated. These stereotypes are strongly held... and they are wrong. We are all at risk, but younger and more educated individuals are actually the most likely to be scammed."

Brady says she thinks this research is very important moving forward.

"This research is so vital, not only to stop scammers from hurting consumers, but to help businesses. That $50 billion 'underground' economy is stealing from the legitimate marketplace. Every dollar lost to a scam is a dollar not spent at a lawful, trustworthy business."

Millennials are especially vulnerable to scams involving credit.

More from Local News

  • Families Needed To Welcome New Students

    Fanshawe College's Regional Campus in Woodstock is looking for hosts for new students. The campus is on 50 acres of landscaped property that is located at the forks of Highways 401 and 403 and it offers small classes and modern facilities for all students.

  • United Way Oxford Accepting Donations For Supplies For Students

    The initiative helps raise money for youth to buy supplies ahead of the school year. The program is for students from junior kindergarten to Grade 6, as well as for students in Grades 7 to 12.

  • Excellence In Agriculture Award Applications Now Open

    The province's Excellence In Agriculture Program has a new category for young farmers this year. People can submit their applications until October 11th across five different categories.

  • Oxford OPP Briefs

    Briefs include a woman facing multiple charges in Ingersoll, including two counts of assaulting a police officer, a break, enter and theft in Ingersoll, assault charges in Ingersoll and theft in East Zorra-Tavistock.

  • Driver Of A Tractor-Trailer Suffers No Injuries Following Collision

    The driver of a tractor-trailer was uninjured following a two-vehicle collision between Molesworth and Listowel. The road remained closed while crews removed the transport from the ditch.

  • Operation Sharing Hosting A Taxable Item Drive At Ingersoll's Giant Tiger

    Operation Sharing is having a taxable item drive this morning at the Giant Tiger in Ingersoll. The event will coincide with the store's grand re-opening, who is also having a barbecue from 11:00 am to 3:00 pm.

  • Norfolk County OPP Investigate Stabbing In Simcoe

    Norfolk OPP say the incident happened after 6:00 last night on West Street when the victim was injured with an edged weapon by two suspects after their confrontation escalated. The investigation is ongoing.

  • Brant County Among The Municipalities At AMO

    Mayor David Bailey and several council members met with provincial leaders and attended various meetings to discuss issues specific to their community, including source water protection.

  • Quantity Of Drugs Seized From A Home in Tillsonburg

    The Oxford Branch Street Crime Unit arrested a Tillsonburg man after an investigation on Queen Street, where they found a quantity of fentanyl, methamphetamine and hydromorphone, along with stolen property. He is expected to appear in a Woodstock courtroom at a later date.

Comments

Add a comment

Log in to the club or enter your details below.

Weather