People between the ages of 18 and 24 face numerous scams in the modern day looking to take their hard-earned cash, according to a report from the BBB. The report says this age group is the hardest hit by scams with individuals reporting a greater median dollar loss than compared to any other age group for the first time since the BBB began publishing research.
From Jan. 1, 2022, to June 24, 2023, young adults made up a little over 6% of the overall reports during the time period, according to the BBB. While this was the smallest percentage of all age groups, it had a much higher median dollar loss of $200. The BBB report also details the top 10 riskiest scams impacting the 18-24 age group:
- Online purchase
- Fake check/money order
- Advance fee loan
- Credit repair/debt relief
Most of the scams involved text messages or internet messages for young adults, according to the BBB. This age group reports a higher number of scams targeting them on sites like Instagram and X, formerly known as Twitter, than other age groups. Some tips the BBB recommends to follow to avoid getting scammed include:
- If it sounds too good to be true, it probably is.
- If someone pressures you to act fast, it’s a red flag.
- Never click on links in unsolicited emails or texts.
You can report scams online through the BBB Scam Tracker by clicking here. Additionally, if you think you have been the victim of identity theft or scams, you can reach out to the Kansas Office of the Attorney General for help.