On the flip side, younger victims of scams lost less money than their older counterparts. Part of this is because elderly Americans tend to have more assets than younger people who are still building careers and wealth.
Knowing what to look out for
One of the best ways for Americans of all ages to safeguard themselves from scammers is being aware of how they operate.
AARP’s Fraud Watch Network confirmed that many fraudsters rely on emotionally riling up their targets. This can make people less inclined to think objectively and more inclined to make impulsive decisions that later backfire.
Scammers also attempt to convey a sense of urgency.
Oftentimes, this involves creating the illusion that if the target fails to fork over funds, they’ll miss out on an opportunity, pass up a great investment, or incur some penalty that could have otherwise been avoided.
Officials also want the general public to know about the following areas where scammers are most likely to strike:
- Romance
- Investment
- Robocalls
- Gift card payments
- Online quizzes
- Social media marketplaces
- Insurance
- Cryptocurrency
- Phony texts and emails (often alleging you have a delayed package)
