They’re supposed to be tech-savvy and good with money but it appears millennials are also pretty gullible.
According to the federal trade commission, 40% of americans in their twenties who reported fraud say they lost an average of $400 to the schemes. In comparison, only 18% of people their grandparents age reported being duped by people out to make a quick buck.
The FTC says the number one scam reported was debt collectors contacting people saying they owed money. Next up was identity theft with credit card fraud being the most common followed by tax fraud.
Coming in at number three on the list was imposter scams; when someone calls you pretending to be a member of the government or a loved one. They use a ruse such as being audited by the IRS or in jail and in need of bail money to get you to wire money. In this case people reported being scammed out of three hundred and twenty eight million dollars.
So maybe think twice the next time someone asks for money; shelling out cash is worth a little investigation.
About Brian
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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Brian's diverse experience and unique perspectives combine with his pleasant and personal manner to engage audiences on many levels. From his days as an Air Force squadron commander to his long career as a business journalist, commentator and public speaker, Brian's approach to speaking and presentation is thought-provoking, inspirational and creative.
"The Technology Tornado: Media & Communications in the Modern Era"
See highlights from Brian's recent Ernst & Young "Continuing Education Conference" speech and hear directly from conference attendees.
Phoenix Convention Center
August 28th, 2019
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