Apr 11, 2022
Question of the Day

Question of the Day: Who loses money to fraud more often - people ages 20-29 or 70-79?

Answer: Younger People

Questions:

  • Do you know anyone who has been a victim of a financial scam? Explain. 
  • Why do you think that young people are victims of financial fraud more often than senior citizens? 
  • What are some financial scams that you are aware of?
  • What are some strategies that can help to avoid scams? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

 

Behind the numbers (Consumer Sentinel Network): 

"There were over 984,000 imposter scam reports to Sentinel. Seventeen percent of those reported a dollar loss, totaling over $2.3 billion lost to imposter scams in 2021. These scams include, for example, romance scams, people falsely claiming to be the government, a relative in distress, a well-known business, or a technical support expert, to get a consumer’s money.

Of the nearly 2.8 million fraud reports, 25% indicated money was lost. In 2021, people reported losing more than $5.8 billion to fraud – an increase of $2.4 billion over 2020."

 

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 For more on fraud, check out our Question of the Day, What's the #1 fraud committed on social media: investment scams, romance scams, or online shopping?

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About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.

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