Millennial More Likely to be Scammed Than Baby Boomers, Study Says

ST. LOUIS (KMOX) – Which age group gets scammed the most? If you guessed baby boomers, you’re wrong.

Michelle Corey with the Better Business Bureau of Eastern Missouri says a new survey by the BBB Institute for Marketplace Trust suggests that millennials are more susceptible to scams than senior citizens.

Senior citizens “have heard loud and clear” that they are vulnerable, so they’re more cautious while shopping. Meanwhile, many millennials are prone to buy online and impulse shop. They also suffer from “optimism bias,” meaning they think others are more likely to get scammed than they are.

Corey says “Marketplace scams effect 1 in 4 North American households each year and add an estimated loss to individuals and families of $50 billion, yet consumers believe…they are invulnerable.”

She adds that scammers count on that mindset when targeting their victims.

(TM and Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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