Jim Winsett of the BBB. Q. What age group is most likely to be scammed and victims of fraud?
A. Very timely question, a new Better Business Bureau report cites surprising new data about who is likely to be more vulnerable than average to scams. The inaugural BBB Scam Tracker Annual Risk Report found men to be more susceptible than women, and 18-24 age groups with the highest risk and median loss of monies.
The BBB watches for trends in scams and schemes. This report analyzed more than 32,000 reports made to BBB Scam Tracker in 2016. While there is no doubt that scams have gone high-tech, the most high risk scam is the face-to-face home improvement scam. Fake check scams run a close second.
The data show a marked trend toward decreased susceptibility with increasing age. Men were at a higher risk than women in seven of the top 10 scam categories. Consumers 18-24 are the most likely to sustain losses. But older consumers generally earn more and have higher median losses; this is due in part because of the types of scams targeted at them.
The big takeaway from the report is that no one is immune from fraud.