Fear of fraud is universal. Today, 77% of Americans are concerned about fraud and identity theft when managing finances online, according to 2025 research from Edward Jones and Morning Consult. Even more striking: 26% of Americans have personally experienced financial fraud. While fraud is often associated with the elderly, millennials are among the hardest hit. Over onefourth (28.6%) of millennials reported experiencing financial loss due to scams — more than any other generation, per 2024 research from PYMNTS Intelligence.
Here are common scams targeting millennials: Cryptocurrency – Promises of guaranteed profits or zero risk are red flags. Watch for Ponzi schemes and fake crypto launches.
Payment apps – Watch for scammers impersonating someone you know or spoofing app emails to steal credentials.
