In 2023, scams targeting Americans ages 60 and over caused more than $3.4 billion in losses, according to the FBI’s Internet Crime Complaint Center. (1) And the Federal Trade Commission (FTC) reports that in 2024, older Americans who fell victim to fraud lost more money than their younger counterparts — a median $1,650 among those 80 and over compared to $417 among people in their 20s. (2)
But, the FTC also found that younger people lose money to fraud more often than their older counterparts. A good 44% of people in their 20s lost money to fraud in 2024, compared to 24% of those in their 70s.
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A recent Malwarebytes survey had similar findings when it comes to digital extortion scams. A good 69% of victims and 64% of mobile extortion scam targets are Gen Zers or millennials, the data says. (3)
Men, the survey showed, are also more likely than women to be the subject of these scams, with 65% of victims and 60% of targets being male. Meanwhile, 53% of mobile extortion scam victims are non-white, and 45% of victims and 41% of targets are parents.
Why younger people are getting lured in
Mobile extortion scams can manifest in a few different ways. One common form is sextortion, where a criminal threatens to publish pictures of someone or a loved one in compromising positions. Or, a criminal may threaten to expose a pornographic search history.
In other situations, a criminal can threaten to access or publish your personal data. This could include everything from bank account numbers to passwords to your Social Security number.
And in perhaps the cruelest scam of all, criminals can also lure victims in with virtual kidnapping scams. What they might do is create a deepfake scam where they play a message that sounds like a spouse or child claiming they were kidnapped. The goal is to get victims to pay a ransom.
So how are criminals able to pull off these digital extortion scams? One way is by sending emails or texts with a link for victims to click on. Those links can install malware or give criminals other ways to access victims’ personal data and information, including videos and photographs.
The reason younger people may be more likely to fall victim to these extortion scams is that they tend to use their devices more frequently than their older counterparts — especially their mobile phones.
In fact, in the Malwarebytes survey, 52% of victims and 46% of targets said they agree with the statement, “I’m more likely to click a link on my phone than on my laptop." A “deep digital footprint” is precisely how criminals can get access to personal information that’s needed to perpetuate one of these scams.
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How to protect yourself
Digital extortion scams can have more than just a financial impact. The survey also found that almost 90% of victims experienced emotional harm following one. A big part of avoiding damaging digital extortion altogether is good digital hygiene, being cautious about how you use your devices. Never leave your mobile phone unattended in a public place, and never click on a strange link you receive via email or text.
It’s also important to recognize the signs of extortion scams. If someone contacts you out of the blue claiming to be a representative from your bank, the Social Security Administration, the IRS, law enforcement or any other government agency, be on alert. These agencies do not, as a matter of course, contact people asking for information, nor do they send emails or text messages with links you need to click on.
Similarly, be suspicious if someone contacts you suddenly via phone, email or text telling you that your mobile device has been compromised. Often, scammers get access to people’s data by offering to fix a problem that never existed in the first place.
As Malwarebytes notes, artificial intelligence has allowed scammers to make fake seem more real than ever. If someone contacts you stating that they’ve kidnapped a family member, they may use AI voice cloning to make it sound just like someone you love. If you get a call, for example, with someone sounding like your 10-year-old child pleading to be rescued, ask them questions only they would know — what they named their yellow teddy bear or the pattern of their old wallpaper.
If you end up falling victim to a mobile extortion scam, contact law enforcement and try to provide as much information as possible. Keep records of all communication with the scammer, and if you spoke to them by phone, take note of any nuances, like whether they had an accent or used strange terminology. You should also report the fraud to the FTC so there’s a record of it on file. (4)
It’s also important to secure your mobile phone and any other devices you have after a digital extortion scam. Change your passwords to strong and unique ones on devices and your various accounts. Consider installing security software and using multi-factor authentication, and do regular system updates as they often include security enhancements.
And if you have reason to believe that your personal information has been compromised, file a fraud alert with the three credit bureaus (Experian, TransUnion, and Equifax) and freeze your credit. This should prevent a criminal from being able to open new accounts in your name.
Finally, don’t let overconfidence become your weakness. As the Malwarebytes survey showed, 7 out of 10 extortion victims felt assured they could spot a scam, yet, few take steps to protect their devices and information even after they’ve fallen victim.
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Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
FBI (1); Federal Trade Commission (2), (4); Malwarebytes (3)
This article originally appeared on Moneywise.com under the title: Gen Z and millennials are now most at risk of extortion scams. Why — and how good digital hygiene can help protect you
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.