October 7, 2019 |
Better Business Bureau
New research shows low financial literacy, social isolation increase scam risk
New fraud research shows that people who live alone or have low financial literacy levels are more likely to lose money to scammers. The research also shows that the highest engagement and victimization rates involve online purchases and social media—outpacing telephone, mail and email fraud. The report, “
Exposed to Scams: What Separates Victims from Non-Victims,” comes from the BBB Institute for Marketplace Trust, the FINRA Investor Education Foundation, and the Stanford Center on Longevity