Ftc Report: More Millennials Lose Money In Scams Than Older Consumers

NASHVILLE – The Tennessee Department of Commerce & Insurance’s (TDCI) Securities Division is sharing the results of an annual report from the Federal Trade Commission (FTC) that reveal a fraud loss trend that may be surprising to some: Millennials reported losing money to financial scams more than older consumers. According to the FTC’s 2017 Consumer Sentinel Network Data Book, consumers in their twenties reported losing money to fraud more often than those over age 70.