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FTC: Millennials Report Losing $71M To eCommerce Fraud In Two Years

PYMNTS

A new report by the Federal Trade Commission (FTC) has revealed that millennials are 25 percent more likely to report losing money to fraud than consumers ages 40 and over. The top five frauds to which millennials report losing money are online shopping frauds, business imposters, government imposters, fake check scams and romance scams.

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Millennials Impacted By Fraud More Than Older Consumers

PYMNTS

A new report by the Federal Trade Commission (FTC) has revealed that millennials are 25 percent more likely to report losing money to fraud than consumers ages 40 and over. The top five frauds to which millennials report losing money are online shopping frauds, business imposters, government imposters, fake check scams and romance scams.

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How fraudsters target different generations

Independent Banker

“Gen Z, the younger generation, has transitioned into the workforce and is primarily being targeted through social media messages and chatbots,” Fratangelo says. Fraudsters typically target millennials via text messages that promise rewards, shipment tracking and other automated messages that make them vulnerable to phishing attacks.”.

Fraud 133
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Communicating With Millennials

William Mills

3 topics to discuss with Gen Y members through blogs, social media and video. Millennials have misgivings about Wall Street, making credit unions ideal financial institutions to capture this demographic group’s business. Debt is a controversial topic for millennials since many are still struggling with student loans.

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The open banking opportunity

Accenture

But much of it originated from the group of voracious digital competitors circling banks’ traditional territory. Based on this survey of over 2,000 consumers, it’s clear that online retailers, tech firms and social-media players face an uphill battle to convince consumers to allow them access to their financial data. So why not?

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AI’s Place In The $50B RV Market

PYMNTS

Technology and social media company Facebook is also growing more involved in the sharing economy. That means taking a closer look at buyer and seller payments, as well as security measures, on the platforms, said Colin Gardiner, chief revenue officer of shared RV marketplace Outdoorsy. About The Playbook.

Marketing 132
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A new digital bank needs a new customer service experience

Insights on Business

Protection (Security). Revamping the company’s internal structure is one of the first steps Bradesco took to achieve the goal of creating experiences that meet expectations of millennials. If it doesn’t, negative news travels fast through millennial networks. Social-based marketing. IBM Think LinkedIn Group.