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Their increased digital activity,limited financial knowledgeand social media use can make them more susceptible to financial scams.
When your guard is down, you’re able to become more susceptible to scams.
Fortunately, there are several ways that Gen Z canprotect themselves from financial scams and learn to recognize them.
Things like usernames, passwords, PINs or one-time passcodes should never be shared with anyone.
Dont trust caller ID, Bernardo said.
Scammers can spoof legitimate phone numbers by altering caller ID.
Furthermore, institutions such as your bank will never request these things over the phone.
Dont send money to people you dont know or cant confirm as legitimate, Bernardo said.
Its also crucial to avoid clicking on any links from unsolicited emails, text messages or online ads.
Additionally, unknown sellers on social media and unknown websites may also be financial scammers.
These are immediate forms of payment and are usually irreversible, making them a common ploy for scammers.
When asked to act immediately, do the opposite, Bernardo said.
Wait until you’re free to validate.
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