Millennials More Likely To Be Victims Of Fraud Than Pensioners


Millennials are more likely than pensioners to be victims of fraud because they don’t check their bank statements, data shows.

People in their mid to late 20s have overtaken over 60s as the most likely age group to be targeted by fraudsters, according to analysis of millions of credit files by Experian.

Over the past year, more than 14% of “third party” fraud victims were aged between 25 and 29, an increase from 11% in 2014.

Millennials are most likely to fall victim to fraud on current accounts and mortgages and experts believe their reluctance to check bank statements and track their finances could see fraud going unnoticed for a considerable amount of time.

Darren Guccione, chief executive at cyber security firm Keeper Security said: “Younger generations tend to do everything from bills to banking online, and this is why they are targeted. They feel they are too busy to log in to accounts or check their statements.

“If you’re an elderly person with lots of time on your hands you’re going to be much more active in reading bills and statements than a younger person.”

Identity theft with victims of all ages has soared across the country to record levels, with figures released earlier this year showing more than 173,000 cases of reported fraud.

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