Employment Opportunities, Online Shopping Listed as Top 2 Scams Affecting Young People Ages 18-24: BBB

A recent Better Business Bureau report found that younger people between the ages of 18 and 24 are now losing more money to fraud than older people.

According to data submitted to the BBB Scam Tracker from January 1, 2022 to June 24, 2023, employment scams are among the riskiest scams for young people and account for almost 30% of reported scams in this age group.

Tom Stephens, president of the Better Business Bureau’s regional office, explained why this age group is more susceptible to scams.

People of this age change jobs more often than older people, so they often look for a newer and better position, he added.

Audrey Robbins witnessed this type of fraud and gave the following advice:

I will check the website for the job, make sure it is legitimate, research it and get feedback from people who have worked for it or purchased its products, Robbins said.

The next employment scams on the list include online shopping, which accounted for just over 29% of all reports filed, with 84% reporting loss of money.

BBB research shows that young people were more likely to report being targeted by text or online messages, but the most common methods used by scammers and most likely to result in monetary loss include websites and social media, especially Instagram and X, formerly called Twitter.

If you receive a text or email with detailed information, don’t click the link, Stephens advises. If it’s a company you recognize, delete the email and go directly to that company’s website and see if they offer this deal.

When it comes to making payments, 18- to 24-year-olds reported higher rates of fraud involving online payment systems and bank account debits, and lost the most through wire transfers, checks and cryptocurrency.

BB listed the following most risky scams:

1. Employment

2. Online shopping

3. Cryptocurrency

4. Rent

5. Investment

6. Fake check/money order

7. Phishing

8. Romance

9. Loan with an upfront fee

10. Credit Repair/Debt Reduction

To view the full report Targeting Our Youth: The Impact of Scams on 18-24 Year Olds, click here. Read BBB’s young adult resources for more tips for younger adults.