Being aware of the potential of financial scams is an essential life skill these days but being overconfident leaves millions of American adults vulnerable to fraud or identity theft.
A new survey from Citi found that 90% of respondents believe they can identify and prevent financial scams but more than a quarter of the 2,300 who took part in the online poll have been victims already with typically tech-savvy Gen Zs the most likely to say this (32%), despite a recent report showing over 60s are at high risk of cybercrimes.
Being scammed means consequences to victims’ financial health (71% said so) including setting back their savings, sending them (deeper) into debt, or lowering their credit score.