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Millennials Listen Up: You're More Likely to Fall for a Scam

The FTC says that Millennials are more likely to fall for online scams from things like shopping or emails compared to older adults

Millennials are at risk of falling for scams more often. That's according to a new study from the Federal Trade Commission. 

According to the study, Millennials are 25% more likely to lose money to fraud than adults over 40 and are more likely to lose their money on certain types of scams like online shopping. 

Millennials are also common targets for fraud involving promising ways to make money or fixes for debt-related problems.

But when Millennials do fall victim to a scam, they actually fair better than older adults. the FTC says that Millennial's median individual reported loss is only about $400. That's much lower compared to other age groups.

Scammers also target Millennials in different ways. Millennials are 77% more likely than any other age group, to lose money from an email scam. But are less likely to fall for a phone scam.

If you see a scam, you can report it to the FTC here.

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