Millennials more likely to be scammed online

Hard to believe, but highly educated and tech savvy millennials are actually more likely to fall victim to online scams than older generations, according to a recent study by the Better Business Bureau (BBB). The study revealed that millennials tend to be overly optimistic, and don’t always take the necessary precautions to protect themselves from online scammers.

Researchers also found that millennials were more vulnerable — being unable to recognize various cons.

Most common types of scams targeting millennials:

• Work-from-home-jobs: Remote work opportunities have become increasingly popular over the past few years. Millennials usually fall for tempting job offers that require them to fill out an application, and in some cases pay a fee. If a job offer sounds too good to be true, then it most likely is.
• Social media: With so many people and businesses on social media, it’s easy to fall for a bogus user account. Fake profiles are also common in online dating sites where scammers gain victims’ trust and then ask for money.
• Email: Scammers send emails that trick you into clicking links or disclosing confidential information, such as login credentials to your bank account.
• IRS phone calls or emails: Scammers will contact victims and demand immediate payment — threatening victims with incarceration. The real IRS never contacts you this way. They always send a bill in the mail and allow for appeal.

For a list of additional scams visit the FBI website.

Prevention:

• Never share your login credentials. Don’t use the same password for every account — use a password managing application such as 1Password.
• Never send wire transfers to someone you don’t know.
• Install anti-virus software on your computer and mobile devices (although mobile devices are not one hundred percent secure).
• Don’t check your bank account on public Wi-Fi.
• Only shop at reputable online stores. If unsure, look up a business on the BBB website before making a purchase.
• Check your bank transactions regularly.
• Sign up for credit monitoring.

Lastly, if you believe you have been scammed by a business or an individual, file a complaint with the BBB.