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Adults ages 18–24 reported the highest median losses ($150) and the highest likelihood of loss (56.6%) to BBB Scam TrackerSM in 2020, according to the Better Business Bureau (BBB).
Previously, older age groups consistently lost higher median dollar amounts to scammers year over year, even while young adults tended to lose money more often. This year, the financial loss reported by those 18-24 was equal to that of adults 65+.
Online scams rise during COVID-19 pandemic: 2020 BBB Scam Tracker Risk Report (BBB.org/RiskReport), focuses on the impact of scams in the wake of the pandemic and the demographic groups most at risk. More scams were perpetrated online and yielded the highest likelihood of financial loss in 2020. This is likely connected to consumer habit shifts since the start of the COVID-19 pandemic.
