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When it comes to avoiding fraud, is it better to be young and savvy or old and wise?
Answer: Younger People (age 20-29)
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?
Behind the numbers (Consumer Sentinel Network):
“Of people who reported their age, those aged 20-29 reported losing money to fraud in 43% of reports filed with the FTC, while people aged 70-79 reported losing money in 23% of their reports and people 80 and over reported it in 22% of their reports. But when they did experience a loss, people aged 70 and older reported much higher median losses than any other age group.”
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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
Ryan Wood
Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.
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