Most Likely Victims of Scams

Most Likely Victims of Scams? It’s Not Who You Think: Cybersecurity Trends

At least according to this UK survey, the most likely victims of scams aren’t old people. They’re millennials and Gen Zs – 18- to 34-year-olds.

According to the Evening Standard (Fifth of 18 to 34-year-olds have fallen victim to financial scams – survey, written by Vicky Shaw), people aged 34 or under are around twice as likely to have fallen victim to a scam as older age groups. Specifically, just over a fifth (22%) of 18 to 34-year-olds said they had been the victim of financial fraud at least once, compared with 12% of people aged 35 to 54 and around one in 10 over-55s.

This result per a survey of 4,000 people across the UK in September, which was carried out for online bank Marcus by Goldman Sachs.

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Despite the findings, more than half (55%) of 18 to 34-year-olds would consider themselves too technologically savvy to be scammed.

However, one in five (21%) 18 to 34-year-olds said they struggle to think clearly when put under pressure during a cold call and nearly half (48%) would act on impulse if they see something that appears to be a good deal.

Sarah Card, head of delivery and risk at Marcus by Goldman Sachs said: “One reason why younger people could be more susceptible to fraud is they are more active in posting their personal details online, making them a target for fraudsters.

“However, fraudsters do not discriminate and no matter your age or how technologically savvy you might consider yourself, it is important that you remain vigilant.

“There are a variety of types of scams out there to be aware of, including phishing emails, phone and text message scams, or those impersonating an organisation using a cloned website. Have the confidence to refuse unusual requests and trust your instincts; no trusted organisation would put pressure on you to make a transaction on the spot.”

So, it’s not the old people who are the most likely victims of scams, at least according to this survey – it’s the “technologically savvy” millennials and Gen Zs! Even the “technologically savvy” need to be careful out there!

“Old” people: feel free to torture your kids (or grandkids) with that stat! 😀

So, what do you think? Are you surprised that 18 to 34-year-olds are the most likely victims of scams? Please share any comments you might have or if you’d like to know more about a particular topic.

Disclaimer: The views represented herein are exclusively the views of the authors and speakers themselves, and do not necessarily represent the views held by my employer, my partners or my clients. eDiscovery Today is made available solely for educational purposes to provide general information about general eDiscovery principles and not to provide specific legal advice applicable to any particular circumstance. eDiscovery Today should not be used as a substitute for competent legal advice from a lawyer you have retained and who has agreed to represent you.

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