COLUMBIA, Mo. (KMIZ)
Adults ages 18-24 are becoming the next target for scams.
The Better Business Bureau recently released a report that focused on the impact of scams in the wake of the pandemic and the demographic groups most at risk.
According to the BBB, adults ages 18-24 reported the highest median losses ($150) and the highest likelihood of loss (56.6%) in 2020.
The financial loss reported by those 18-24 was equal to that of adults 65+, an age group that traditionally sees the highest median loss.
In 2020, more scams were perpetrated online and had the highest likelihood of financial loss. The BBB says it's likely connected to consumer habit shifts since the start of the COVID-19 pandemic. Online purchase scams were the most common scam reported to the BBB, comprising 38.3% of all scam reports. Pet and PPE-related online purchase scams spiked during the pandemic.
The risk of financial loss also rose significantly in 2020. Nearly one of every two reports reported a financial loss.
In 2020, 46,575 scams were reported to the BBB.
For more highlights from the BBB Scam Tracker Report, click here.