Younger Americans are more at risk of getting fooled by holiday scams. This is what an expert from the Better Business Bureau-a non-profit organization focusing on advancing marketplace trust-claims.
As of writing, most Americans who are younger than 30 years old spend more time on the internet. Teens tend to scroll on social media for hours to entertain themselves or find important news about critical happenings in the world.
Credit cards are pictured on a computer's keyboard on February 5, 2013 in Rennes, western France. French police has arrested, early this morning in Paris and in several French and overseas departments, 22 people in connection with the trade of credit cards numbers on internet.
Meanwhile, those 20 years old and above access the internet for work purposes or gigs. But, spending more time on the internet exposes them to more scams that can drain their bank accounts.
Younger Americans More At Risk of Holiday Scams
BBB expert Tom Stephens claimed that younger Americans tend to be more at risk of holiday scams.
"The 18-24 age group gets scammed more than anybody," he said via WTOC.
The Federal Bureau of Investigation also said that over 12,000 U.S. residents have fallen victim to holiday shopping scams in 2022.
Most of these fraud campaigns are online surveys, gift cards on social media platforms, as well as fake advertising messages. All these scams aim to steal sensitive information, especially bank details.
Stephens explained that younger Americans are more at risk of holiday scams because they spend more time on the internet compared to other people.
He clarified that older individuals also fall victim to these scammers. Although not often, people over 30 years old lose more money when they get fooled by cybercriminals.
Read Also: TikTok Shop Scam Alert Issued by BBB-Offers Tips on How to Avoid Fake, Faulty, Non-Existent Products
Most Common Holiday Scams
Shoppers leave a store on "Black Friday" November 25, 2005 in New York City. With many retailers using giveaways and price cuts, shoppers turned out in droves on the first day of the holiday sales season. The National Retail Federation has estimated that sales this year may rise 6 percent and consumer spending.
If you are among the younger Americans who spend hours scrolling online, Morgan Stanley provides the most common holiday scams you need to look out for.
- These fraud campaigns include the following:
- Gift Card Scams
- Social Media Scams
- Package Delivery Scams
- Missed Package Scams
- "Brushing" Scams (this scam aims to create fake reviews by giving away cheap products)
What Younger Americans Can Do
Now that you know the most common holiday scams that might target you, it is time to learn the things you can do to avoid getting fooled by them.
To avoid becoming one of the holiday scam victims this 2023, here are some tips you can follow:
- If you receive unknown suspicious email messages, never click the attachments or links.
- If you suspect that you accessed some scam website or accidentally clicked a suspicious email message, monitor your bank accounts as soon as possible.
- Always shop on online websites with "https" and those with the padlock icons in their links.
- Try using your credit card when doing online transactions.
- Check the reviews and the online seller account's history.
Related Article: How To Avoid Black Friday Christmas Scams: UK Finance Shares Tips to Parents
