Millennials Reporting More Electronic Scams, but Smaller Losses than Individuals Over 40

Scams, whether initiated online or over the phone, affect people of all ages. However, to the surprise of some, the Federal Trade Commission (FTC) has found that individuals in the millennial generation, which the FTC defined as people between 20 and 39, are 25 percent more likely to report losing money to fraud from electronic scams.  In its report, the FTC analyzed the reporting rates of fraud from September 2017 to August 2019, including the following types: 1. Online shopping 2. Business imposter scams…
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