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IRS Impersonations Fraud du jour for Gullible Millennials

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New research shows fake IRS calls make up 27% of scam calls, followed by cruise/vacation scams (25%) and bank/credit card scams (16%).

First Orion, provider of data and phone call transparency solutions reports consumers will receive over 9 billion phone calls from known scammers this year. 

Millennials received fewer scam calls (73%) than Gen X (83%) or Baby Boomers (84%). However, Millennials were much more likely to give away personal information over the phone compared to any other generation.

Millennials were 6x more likely to give away their credit card information (2.4%) and almost twice as likely (1.6%) to give away their social security number to a scammer over the phone.

Other research tidbits:

• Roughly 70% received a scam call within the past month

• Of respondents who had received a scam call, 12% had received 21 or more in the last six months, compared to only 3% who received that many in 2015

• Over 7% of respondents are likely to give their personal information over the phone once a caller has verified the last four digits of their social security number

• Almost 17% of Millennials are likely to give away personal information over the phone once a caller has verified the last four digits of their social security number whereas only 3.2% of Generation X and 2% of Baby Boomers

• Only 35% of Millennials think they are currently susceptible to identity theft compared to 50% of Gen X and 54% of Baby Boomers

• Almost half of those surveyed believe it is their cell phone carrier’s responsibility to block scam and fraudulent calls or texts from coming to their phone

• Nearly three-fourths of respondents said they would be more inclined to use a cell phone carrier that automatically blocked telemarketing and scam calls

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