Study shows more scams targeting millennials

Study shows more scams targeting millennials

LITTLE ROCK, Ark. (KTHV) -- Spring Break may be right around the corner, but scammers aren't taking a vacation.

New research from the Better Business Bureau shows people ages 18-24 are more likely to be targeted for scams. Many of the scams geared toward millennials deal with technology and jobs according to Mike Rohrer, Vice President of the Better Business Bureau of Arkansas.

"They're more impulse buyers," said Rohrer.

According to the BBB Study, more millennials are falling victim to scams than baby boomers.

"We think maybe it's the ease of online.  They're losing $5, $10 here.  Ah, I didn't care I lost that there or maybe it's through a game or something like that or just a site they clicked a link off of, but still it adds up," said Rohrer.

Rohrer said the three factors measure how likely a consumer is to be exposed to a scam, how likely they are to lose money, and if they do, how much the loss is.

"It's a great deal and I want to buy it, I'm going to do it right now.  If you could wait and take your time and do a little research.  That's where you're going to get the protection," said Rohrer.

He said the data shows 11 percent of older Americans lose money to scam artists. That's compared to 34 percent of young people.

"Different chats and social media, buying things online.  Something looks good, lets buy it and it doesn't come through for them," Rohrer said.

 Much of it boils down to a question of experience. Older consumers see the same scams come around year after year and become wary Rohrer said, but to the young everything old is new again.

"The seniors aren't falling for it, they're a little bit more wary.  millennials aren't as wary, or as patient," he said.

The BBB recommends before making an instant purchase online, take a few minutes and do a little research. At least look up the company before making buying the item.

© 2017 KTHV-TV


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