Protect Yourself Against Online Shopping Scams Targeting Millennials In 2024

Mar 11, 2024

If someone you know has recently fallen victim to an online scam, you may be starting to worry about your own internet safety. Make sure you stay protected online with the latest advice from Wealth Building Way.

Are you really safe online? From dating and romance scams to online shopping fraud, cybercriminals are finding new and elaborate ways to trick their victims. Despite growing up in an online world, millennials are more likely to fall prey to online fraud than any other age group. So how can you protect yourself, your family and friends from becoming a victim? Wealth Building Way is here to help you spot online scams and stay alert.

Find out how to protect yourself from online scams at

The Worrying Rise of Online Fraud

Millennials grew up during one of the biggest technological revolutions in human history and have grown accustomed to using technology every day. Despite this, more millennials are becoming victims of online fraud and scams than ever, with the FBI reporting a 157% increase in related complaints from those under 21. In response, Wealth Building Way has launched a helpful guide to help this demographic identify scams and keep their personal information and assets safe.

Online Shopping Scams

Online shopping scams typically target millennials because of their comfort level and familiarity with e-commerce sites. To protect yourself when shopping online, Wealth Building Way recommends shopping at reputable stores and regularly monitoring your bank statements for suspicious activity.

According to data published by the Federal Trade Commission (FTC), young adults are 86% more likely to report losing money to online shopping scams and 330% more likely to fall victim to investment scams. Therefore, you should be mindful of the increased risks you face and exercise vigilance and caution in using technology, explains Wealth Building Way.

Phishing Attacks

So how do you stop yourself from falling hook, line and sinker for a phishing attack? In order to protect yourself against fraudulent emails and websites, Wealth Building Way recommends regularly updating your software and security patches. You should also use two-factor authentication (2FA) to minimize risk when a password is compromised.

A quick tip: always use strong, unique passwords for each platform or service. This will protect your accounts and devices from unauthorized access and cyber-attacks. 

Phone Scams

In addition to discussing various types of scams, the guide also outlines tips for identifying and avoiding phone scams. It notes that phone scammers often use pressure tactics to create a sense of urgency. As a result, requests for personal information over the phone should always be treated with suspicion. To stay safe, you should take the time to verify a caller’s identity before providing any sensitive information.

If it sounds too good to be true, it probably is! Stay one step ahead of the scammers with the latest advice from Wealth Building Way.

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