Millennials are more vulnerable to scams than baby boomers according to a BBB report – Alabama's News Leader

With school starting for college students, parents may be wondering: “is my child ready for the world?”

According to the Better Business Bureau, when it comes to scams, they may not be.

The report shows that scammers are going after students, looking to capitalize on loan payments.

“They’ll call you and demand money, saying you owe taxes, but in this case, their going after students,” Eric Gossett with the BBB said.

They are targeting freshman, demanding they pay up for student loans.

“They are already stressed out, school is starting, then you get this phone call from someone you don’t know, saying they are from the government and they’re going to take away your student loans, so most students reaction is to pay the money,” Gossett said.

He says the name that shows up on your caller ID may look like it’s from the government, but he says the federal government will never call you asking for payment over the phone.

Another red flag.

“Most of these IRS scams when they ask you to pay money, they’ll ask you to wire it to them, cause it’s the easiest way to get money,” Gossett said.

Some young people often think they’ll see a scam from a mile away.

But it turns out, millennials are more vulnerable to scams than baby boomers according to a BBB report.

“They’ve grown up thinking that they have all of this knowledge regarding these scams, but in reality scammers are just finding new ways to get to them so red flags aren’t raised when they should be,” Gossett said.

If you would like to view the report CLICK HERE.

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