This Generation Is The Most Likely To Fall For Costly Online Scams (And It's Not Boomers)

Baby boomers came from a different era in which working hard, saving what you could for the future, and trusting in the word of others was frequently enough to live comfortably and safely. Today, things are often more complicated, with many pieces of baby boomer savings advice and frameworks no longer working — especially that of taking others at their word. Even though seniors do need to watch out for scammers, you might be surprised by the age group that is actually most at risk of scams. Specifically, Gen Z consumers, those aged 14 to 29 in 2026, have surpassed baby boomers in their level of scam targeting and victimization. 

According to a 2024 Deloitte survey, Gen Z respondents were more than twice as likely to have their identity stolen, experience a hack of one or more social media accounts, or have a device breached than those in the baby boomer generation. Meanwhile the Federal Trade Commission reported that 30% of all scam losses in 2025 originated on social media, to the tune of $2.1 billion. Gen Z's familiarity with, and heavy presence on, online platforms makes them prime targets for cybercriminals looking for exploitable weaknesses — and losses can add up fast. Per an analysis by the Consumer Federation of America, the cost of scams and crimes exceeds $1,000 per U.S. household in 2026.

According to FBI statistics, those under 20 reported more than 31,000 complaints in 2025, resulting in $67.1 million in total losses to scammers. Meanwhile those aged 20 to 29 more than 112,000 individual reports, resulting in $563.1 million in losses. Meanwhile the Federal Trade Commission notes that social media scams were the costliest method of digital fraud in 2025. Gen Z has grown up in a fully digital world, with a notable lack of privacy. As a result, research shows that many in this age group assume efforts to secure themselves online would be in vain. As such, they're more likely to prioritize convenience at the expense of better digital privacy habits — just one of Gen Z's worst spending habits and behaviors.

Deloitte found that 56% of Gen Z and millennial respondents highlighted struggling to limit their screen time, with a 2025-2026 YouGov survey finding that Gen Z exhibited the highest daily percentage of social media users across generations. As such, this generation is more likely to be on the exact platforms that cybercriminals frequently target. This level of online activity has led to plenty of vulnerability, with Kaspersky noting that over half of Gen Z has experienced a cyberattack, including things like social media account hacks and gaming account takeovers.