Gen Z falls for more scams than Boomers: Wall Street influencers discuss why

The stereotype that only older people fall for scams is outdated. A recent Deloitte survey found that Gen Z Americans are nearly three times more likely than Baby Boomers to be duped by online scams. Unfortunately, little lapses in judgment can be costly: scams caused more than $16 billion in losses in 2024, up sharply from 2023, according to a recent FBI report.

“Generation Money” explores why Zoomers are falling for scams

In the latest episode of “Generation Money,” a YouTube series dedicated to financial wellness, seasoned Wall Street gurus Dan Nathan and Guy Adami sat down with special guest Mohamed Beyruti to discuss some of the biggest reasons driving this worrying trend, highlighting decision fatigue as a major factor.

Watch the episode to test your own “scam Spidey sense” and see Norton Genie — an advanced AI-powered scam detector — in action.

Top scam red flags to watch out for

Although scams are getting more sophisticated, many still rely on the same old social engineering tactics that fraudsters have used for years. Whether you’re a Zoomer, Boomer, Millennial, or whatever people in their late 40s are called, watch for these five common warning signs of fraud:

• Urgent tone: Demands for immediate action, like “Pay now” or “Confirm within 24 hours,” that push you to act before thinking are a big red flag. Pause and verify the sender through an official channel before taking any action.
  
• Too-good-to-be-true offers: Unrealistic jobs or investments that promise big money with little effort are almost always fake. Research the company or job opening independently: real opportunities don’t hide behind vague details or pressure tactics.
  
• Suspicious links: Misspelled URLs, odd domains, or random characters in links are a major warning sign. Hover over the link or tap-and-hold on mobile to preview the URL before clicking — or run the link by Norton Genie.
  
• Requests for personal info or money: Ignore requests for sensitive personal data or gift card payments via unsolicited messages. Remember that when legitimate organizations request personal details or payments, they’ll usually ask you to enter them directly on their site — not via a text message link.
  
• Unexpected messages: Be suspicious of messages about missed packages you never ordered or unpaid fees from services you don’t use, especially with links to “fix” the issue. Check your official account or delivery history before engaging with the message.

Use Norton 360 to help spot scams automatically

Scammers adapt quickly, making some threats hard to spot on your own — especially if you’re distracted, tired, or overwhelmed. That’s where an advanced scam detection tool can help.

Norton Genie is an AI-powered scam detector that alerts you to suspicious texts, emails, and websites. Just upload a screenshot, input a URL, or paste in message contents, and Genie instantly flags potential scams.

Or, install Norton 360 Deluxe for automatic alerts about potential scams. This powerful suite of Cyber Safety tools will help protect you even when you don’t suspect something’s wrong — no copying or pasting needed.