Did someone try to scam you in 2020? According to a report by the Better Business Bureau Institute for Marketplace Trust, in 2020 scam susceptibility was at an all-time high. 46.7% of scams reported using the BBB Scam Tracker app resulted in financial loss.

That means that 1 in every 2 scam attempts was successful. That figure increased from 35.1% of consumers who lost money when exposed to a scam in 2019.

What findings might surprise you? Young adults ages 18-24 were the most susceptible to scams. This age group was exposed to scams less frequently than other age groups studied. Adults ages 18-24, 25-34, 35-44, and 45-54 were all over 50% susceptible to scams. Seniors, adults 65 and over, were only 31.9% susceptible to scams according to the BBB’s research.

What can we learn? People who didn’t lose money to scammers said they avoided scams by listening to their gut. They paid attention when something felt off about the scam situation. They also said having background knowledge on the scam type that targeted them helped. Many also did research into the type of scam/offer they had been approached with. Knowledge and instinct helped them avoid being swindled.

People who lost money to scammers said knowing more about the type of scam could have helped them. Many also believed that knowing about scammer tactics and checking into the background of the scammer who contacted them would have helped.

See the full 2020 report by visiting: https://www.bbb.org/bbbscamtrackerriskreport/. You can be part of 2021’s statistics by reporting any scam attempts you encounter to the BBB at https://www.bbb.org/scamtracker .