Nine out of ten parents are concerned about their children falling victim to scam.
Nine out of ten parents are concerned about their children – and their aging parents – falling victim to scam. A poll of 2,000 adults, dubbed the “Scamwich Generation,” found that 43% believe the chance of their loved ones being scammed increases during lockdown.
This is due to the fact that they appear to have spent more time online in the last 18 months. The study’s participants, who included parents and children under the age of 18, indicated the types of fraud they believe their family members are most vulnerable to.
Because fraud is on the rise and scams are becoming more complex, it’s reasonable that parents are concerned about their children or grandchildren being victims.
Director of fraud protection at Lloyds Bank, Philip Robinson
They’re most concerned about impersonation scams (30 percent), followed by purchase scams (24 percent) and invoice, or mandate-related texts (19 percent).
The survey, commissioned by Lloyds Bank, also revealed where and how their children and aging parents may fall victim to various scams.
The most likely areas for children to be targeted are social media (45 percent) and text messages (38 percent).
When it comes to their elderly parents, phone calls (50 percent) and email scams (37 percent) are the most concerning.
“Lockdown has increased pressure on the “Scamwich Generation” of parents, and many feel responsible for protecting their loved ones against fraud,” said Philip Robinson, fraud protection director at Lloyds Bank.
“With fraud on the rise and scams becoming more complex, it’s reasonable that parents are concerned about their children or grandchildren being victims.”
The number of parents concerned about relatives falling prey to fraud has climbed 5% year over year, according to the study.
Parents are twice as concerned about their elderly parents (60 percent) as they are about their children (28 percent).
Despite the fact that younger generations are more likely to be victims than older generations, this is the case.
The need to safeguard loved ones, as well as rising concerns about fraud, are increasing the pressure on “Scamwich Generation” parents.
More than half (57%) believe they are responsible for protecting their elderly parents and children from scams.
However, three out of ten people (29%) have never taken any action to protect family members from becoming victims.
Almost a fifth (16%) of parents are hesitant to discuss fraud with their children, with more than a fifth (22%) thinking that this advice is sound. “Brinkwire News in Condensed Form.”