Digital native status does not protect you against fraud.

2nd May, 2024
Digital native status does not protect you against fraud.

The distinction between the physical world and the virtual world was distinct in the early days of the internet. But as more and more of our lives are spent online, a lot of us have a tendency to turn off our critical thinking when using different platforms and apps. Online frauds have become more sophisticated, fooling even seasoned internet users with their false WhatsApp messages and bothersome spam emails.

Strangers can easily fool gullible people into investing in questionable schemes these days by seeming to be legitimate chances. Scammers with cunning can even use professional social media sites like LinkedIn to contact people, posing as hiring prospects at respectable businesses.

Greetings from the murky depths of the internet, where scammers lurk just beneath the surface of our daily lives. Phishing efforts, bogus calls, and messages abound, preying on our trust and weaknesses.

The CEO of a California-based cybersecurity company, Rachel Tobac, notes that we frequently undervalue the risks associated with these online encounters since admitting they exist is upsetting.

In a terrifying instance that occurred in February, a man in Hong Kong became a victim of a scam in which fraudsters using a convincing deepfake video call pretending to be his colleagues received $26 million of his company’s assets. In the past, it was simpler to identify these types of scams because they targeted less tech-savvy people with awkward emails full with mistakes. But things have changed, and now even those who were raised in the digital age and are accustomed to using the internet are common targets for scammers.

A survey found that, for the first time, young adults between the ages of 18 and 24 lost more money to scammers in 2023 than any other age group. Being digital natives does not grant them immunity, despite their comfort with digital platforms; on the contrary, it makes them more vulnerable.

The FTC reports that nearly 600,000 cases of impersonator schemes occurred in the US alone last year, resulting in losses over $2 billion, demonstrating the astonishing scope of the issue. Andy Cohen, the host of Bravo TV, was one of the victims. He opened out about his experience on NBC’s Today Show, warning viewers not to fall for con artists posing as bank personnel.