Millions of Americans are being subjected to financial scams, with a large proportion of them losing money, according to a recent survey by consumer services company Bankrate.
“About 1 in 3 U.S. adults (34 percent) have experienced financial fraud or a scam in the past 12 months, since January 2024,” the company said in a March 3 statement.
“Of Americans who’ve been scammed in the past year, almost 2 in 5 have lost money (37 percent). That includes 19 percent who lost money when someone accessed their personal information and 23 percent who sent funds to a scammer or paid for a phony service.”
Older generations, baby boomers, and Gen X were found to be slightly more likely to have experienced financial fraud compared to millennials and Gen Z….