Question of the Day: Which generation is more likely to fall for online scams, Baby Boomers or Gen Z?
When it comes to avoiding fraud, is it better to be young and savvy or old and wise?
Answer: Gen Z is...
- Three times as likely as boomers to fall for an online scam (16% vs. 5%)
- Twice as likely as boomers to get hacked on social media (17% vs. 8%)
- 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 older people?
- What are some financial scams that you are aware of?
- What are some strategies that can help to avoid scams?
Behind the numbers (Morning Brew):
"This classic online con is notorious for swindling seniors out of their retirement money, but it turns out Gen Z is more likely than boomers to fall for internet scams, according to a new report from Deloitte.
In a survey of more than 2,000 Americans, Deloitte found that despite being the generation born and bred in the bowels of the World Wide Web, Gen Z is…
- Three times as likely as boomers to fall for an online scam (16% vs. 5%).
- Twice as likely as boomers to get hacked on social media (17% vs. 8%).
The reason is simple: Younger people spend an exceptional amount of time communicating and shopping online, a Deloitte principal told Vox, which gives them more opportunities to fall victim to a suspicious Instagram account promising massive crypto returns, for example, or a fraudulent e-commerce site posing as a sneaker retailer."
NGPF's Consumer Skills unit can give your students practice on being savvy consumers.
PLAY: Spot the Scam Signs can give your students practice on identifying specific scams (note: this activity is included in Semester Course lessons)