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Identity theft is a sneaky crime that exploits the weaknesses of every generation.
Whether you’re a complacent Millennial whose favorite password is still your dog’s name or a lonely widower who gets catfished by an online romance scam, you might be surprised to learn no age group is immune to identity theft.
This type of fraud occurs when someone steals your personal information such as your name, Social Security number, passwords or address. They may use this information to open lines of credit, steal money from your bank account, take over a social media page or email account, collect unemployment and even file taxes.
And it’s a multibillion-dollar problem. According to the Federal Trade Commission (FTC), more than $5.8 billion was lost to fraud in 2021 alone.
For people who have spent their lives online, identity theft may seem like a vague threat, and the effort to protect themselves doesn’t feel worthwhile. But FTC data show that young Americans are just as susceptible as older Americans to identity theft scams.
Why Younger Generations Are Vulnerable to Identity Theft
In the third quarter of 2022, the majority of identity theft reports to the FTC were from people in these three age groups:
- 30 to 39 years old (30% of identity theft reports)
- 40 to 49 years old (22%)
- 20 to 29 years…
