Have you ever watched a documentary or a TikTok story time about scams and thought to yourself, “This could never be me”? Well, turns out it could.

Scams are no longer emails filled with spelling mistakes or obvious red flags. According to international consumer protection agencies and academic studies, scammers are becoming more sophisticated, and their victims are no longer lonely people or the elderly.

While most of us are under the impression that only elderly people are targeted, recent data paints a far more complex picture.

Contrary to popular belief, younger people report scam losses more frequently than older adults. Consumer protection data from multiple countries shows that people between 18 and 39 are consistently the age group most likely to report being scammed.

At this point, you are thinking: “But they are the ones on social media.” That’s exactly why.  

Younger adults spend more time on social media, online marketplaces, messaging apps and job and investment platforms, which means they have a higher exposure to scams.

Many modern scams, including fake job offers, cryptocurrency schemes, online shopping fraud and account “hijacking” scams, originate on social platforms, where younger users are most active.

However, while younger victims may lose money more often, the amounts are usually smaller than in cases involving older victims.

Older adults are one of society’s most vulnerable, yet they lose more and are often deliberately targeted.

People aged 60 and older are less likely to report being scammed overall, but when they are victimised, their financial losses tend to be higher.

Research shows older adults are more frequently targeted with impersonation scams (banks, government, healthcare bodies), lottery and prize scams, romance scams and telephone-based fraud

Studies also indicate that scammers deliberately return to older victims once trust has been established, leading to repeat victimisation.

Age-related factors such as social isolation, declining familiarity with digital platforms, and reduced confidence in detecting fraud can make some older adults more vulnerable, but it’s worth noting that this does not mean they are naïve.

Education, income and confidence matter

So if you are over the age of 60, you are targeted, and if you are under the age of 39, limiting screentime is the way to go. But scam susceptibility is not just about age.

Multiple studies show that lower financial literacy and numeracy increase the risk of falling for scams. However, higher education does not guarantee protection either.

Research suggests that overconfidence, the belief that “I would never fall for a scam”, can actually increase vulnerability. Scammers often exploit educated or financially stable individuals using complex investment schemes, impersonation emails, or long-term relationship-building tactics.

People with higher incomes are also more likely to be targeted, as scammers actively seek victims who appear financially secure.

Why do these scams work?

Psychology, not intelligence, is the key factor behind successful scams. This means that when you are watching a TikTok storytime like the Danish Deception, you can’t say “I am too smart for this.” 

Scammers rely on urgency (“act now or lose access”), fear (account breaches, legal threats, health warnings), trust (impersonating banks, employers or well-known organisations) and emotion (romance, financial stress, job insecurity).

Modern scams use social engineering, meaning it is carefully designed to bypass rational thinking by triggering emotional responses.

Scams are getting smarter

Academic researchers and cybersecurity firms warn that scammers are now using:

• Artificial intelligence to write convincing messages
• Voice cloning and deepfake technology
• Personal data harvested from breaches and social media
• Long-term “grooming” strategies rather than quick thefts

These techniques make scams harder to identify, even for cautious users.

IOL

Source link