Security News > 2020 > March > Social isolation is a risk factor for scam loss

Research from the Better Business Bureau, the FINRA Investor Education Foundation, and the Stanford Center on Longevity found that people are more likely to lose money to a scam when they are socially or physically isolated from others, if they are actively engaging online, and if they are financially vulnerable.

"According to our research, social isolation is a key risk factor for susceptibility to scams, as is financial vulnerability," said Melissa Lanning Trumpower, executive director of the BBB Institute for Marketplace Trust, BBB's foundation that conducted the research.

As people turn to the Internet seeking new or temporary employment, they are also at increased risk of employment scams.

Employment scams are deemed the riskiest scams of 2019, making up 9.3 percent of all scams reported and a median dollar loss of $1,500.

Fact: According to the Exposed to Scams report, those who heard about the scam before they were targeted were significantly less likely to lose money.

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