oung people have grown up with computers and smartphones. Therefore, it is not surprising that they are knowledgeable about technology and the internet and give them confidence in the online environment. They also tend to be more inexperienced and trustworthy than most age groups when it comes to interacting with others. This combination makes teens vulnerable to scammers, especially in the increasingly dangerous online world.
According to social media investigative service Social Katfish, people aged 20 and over have the fastest fraud victim growth rate (156%) across all age groups surveyed between 2017 and 2020. Financial losses for scammers in this age range increased from $8 million to $71 million over a three-year period.
"Children under the age of 18 are much more likely to be victims of identity theft than adults," says fraud expert Steve Weisman. "They are targeted for two reasons. First, it takes longer for them to learn that they are the victim of identity theft, and thus longer for identity thieves to use their identities for criminal purposes. Furthermore, this information is often used in synthetic identity theft, where criminals create a completely fake identity with information from a large number of different people."
According to a 2021 study, social media use among young people increased by 84% compared to 2015. 94% of 8- to 18-year-olds have access to smartphones. It is necessary to know what scammers do and how you can defeat them. Here are 5 common scam attempts that directly or indirectly target young people and what you can do to ensure that your teen doesn't become a victim, and the next spot is 5 more common scam attempts and how you can fight them.
1. Social Media Scams
Social media is the primary region for internet-based fraud attempts targeting young people. Young people have started to spend most of their time on social media due to the recent epidemics in their social lives, which has been a great advantage for fraudsters.
Common scams on social media include identity theft or the theft of another person's personal information. The first is that the scammer pretends to be someone they are not and tricks the victim into order to get money, personal information or more.
While these are the most common social media scams, many other scams occur on these platforms, including many of the other scam attempts in this article.
2.Online Shopping Scams
"Teens and millennials also shop online for expensive products," Weisman said, "They are often drawn to fake websites that take their money and don't sell them anything, are tricked into providing personal information used for identity theft purposes, or clicking on links and downloading malware," Weisman said. Says.
Finding the latest iPhone, designer handbag, or high-end products at a fraction of the retail price sounds really cool. Unfortunately, this is exactly the case: too good to be true. When you pay, these items rarely arrive on your hands.
Another form of this scam involves counterfeit products or product imitations that are considered real deals. When there was a shady back-street dealership state coming from the trunk of a car, online discount sales found a new home and new victims in cheap AV teens. The problem goes like this: "If it looks too good to be true," and so on.
3. Identity Theft
This scam deserves a special place as it is one of the most common and only one of the online areas where social media has emerged. Others include websites, email, messaging apps, and pop-ups.
The naivety of youth often makes it easier for identity thieves to phishing for information. Teens don't always realize that they are handing over personal data that could be used for identity theft. This is illustrated by a survey of 18- to 29-year-olds, who found a much higher rate of identity theft (15%) compared to those aged 45 and older (8%).
Any online interaction that asks for personal information can be an identity theft.
This includes:
Wrong employment opportunities
Fraudulent applications for credit cards, scholarships, and student loans
These are 'so-called free'
Weisman also notes that business fraud can lead to identity theft or worse outcomes. "Some of these business scammers are sending the young person fake checks in excess of the amount due and they are tricked into depositing the money into their own account and sending the balance back to their 'employer'. The check sent by the scammer eventually returns, but the money sent by the teen goes away forever."
4. Skill or Talent Contests
Another popular form of online scams that thrives outside of social media is a variant of acting and modeling scams that are also alive and well on the internet. More recent scams involve skill-based contests where young people are encouraged to participate in works of art, musical compositions or creative writing to earn money and, more importantly, fame.
5. Scholarship and Grant Fraud
As college costs rise and teens (and their parents) worry about funding higher education, skepticism about unsolicited scholarships and grant offers may not be as strong as it should be. The purpose of these scams may be simple identity theft, or it may be a more direct attempt to charge for scholarships or so-called private information about free money that the public is not aware of.
These fraudulent offers can sometimes take the form of a guarantee that you will get your money back if you do not receive the scholarship; special paid scholarships; and even unclaimed scholarships can only be accessed through a private fund by paying a fee.
According to social media investigative service Social Katfish, people aged 20 and over have the fastest fraud victim growth rate (156%) across all age groups surveyed between 2017 and 2020. Financial losses for scammers in this age range increased from $8 million to $71 million over a three-year period.
"Children under the age of 18 are much more likely to be victims of identity theft than adults," says fraud expert Steve Weisman. "They are targeted for two reasons. First, it takes longer for them to learn that they are the victim of identity theft, and thus longer for identity thieves to use their identities for criminal purposes. Furthermore, this information is often used in synthetic identity theft, where criminals create a completely fake identity with information from a large number of different people."
According to a 2021 study, social media use among young people increased by 84% compared to 2015. 94% of 8- to 18-year-olds have access to smartphones. It is necessary to know what scammers do and how you can defeat them. Here are 5 common scam attempts that directly or indirectly target young people and what you can do to ensure that your teen doesn't become a victim, and the next spot is 5 more common scam attempts and how you can fight them.
1. Social Media Scams
Social media is the primary region for internet-based fraud attempts targeting young people. Young people have started to spend most of their time on social media due to the recent epidemics in their social lives, which has been a great advantage for fraudsters.
Common scams on social media include identity theft or the theft of another person's personal information. The first is that the scammer pretends to be someone they are not and tricks the victim into order to get money, personal information or more.
While these are the most common social media scams, many other scams occur on these platforms, including many of the other scam attempts in this article.
2.Online Shopping Scams
"Teens and millennials also shop online for expensive products," Weisman said, "They are often drawn to fake websites that take their money and don't sell them anything, are tricked into providing personal information used for identity theft purposes, or clicking on links and downloading malware," Weisman said. Says.
Finding the latest iPhone, designer handbag, or high-end products at a fraction of the retail price sounds really cool. Unfortunately, this is exactly the case: too good to be true. When you pay, these items rarely arrive on your hands.
Another form of this scam involves counterfeit products or product imitations that are considered real deals. When there was a shady back-street dealership state coming from the trunk of a car, online discount sales found a new home and new victims in cheap AV teens. The problem goes like this: "If it looks too good to be true," and so on.
3. Identity Theft
This scam deserves a special place as it is one of the most common and only one of the online areas where social media has emerged. Others include websites, email, messaging apps, and pop-ups.
The naivety of youth often makes it easier for identity thieves to phishing for information. Teens don't always realize that they are handing over personal data that could be used for identity theft. This is illustrated by a survey of 18- to 29-year-olds, who found a much higher rate of identity theft (15%) compared to those aged 45 and older (8%).
Any online interaction that asks for personal information can be an identity theft.
This includes:
Wrong employment opportunities
Fraudulent applications for credit cards, scholarships, and student loans
These are 'so-called free'
Weisman also notes that business fraud can lead to identity theft or worse outcomes. "Some of these business scammers are sending the young person fake checks in excess of the amount due and they are tricked into depositing the money into their own account and sending the balance back to their 'employer'. The check sent by the scammer eventually returns, but the money sent by the teen goes away forever."
4. Skill or Talent Contests
Another popular form of online scams that thrives outside of social media is a variant of acting and modeling scams that are also alive and well on the internet. More recent scams involve skill-based contests where young people are encouraged to participate in works of art, musical compositions or creative writing to earn money and, more importantly, fame.
5. Scholarship and Grant Fraud
As college costs rise and teens (and their parents) worry about funding higher education, skepticism about unsolicited scholarships and grant offers may not be as strong as it should be. The purpose of these scams may be simple identity theft, or it may be a more direct attempt to charge for scholarships or so-called private information about free money that the public is not aware of.
These fraudulent offers can sometimes take the form of a guarantee that you will get your money back if you do not receive the scholarship; special paid scholarships; and even unclaimed scholarships can only be accessed through a private fund by paying a fee.
