Millennials are being targeted by employment scammers

Online purchase scams were the leading type of scams in Canada last year, per the Better Business Bureau, but a more dangerous contender is now coming for the crown.

Listen up recent grads, young professionals, and mid-career movers: employment scams were the most commonly reported scam by those aged 18 to 34 last year, with the number of reports increasing by 23.1% from the year before. 

• These shams also cause the most damage. The average employment scam swindles $1,500 out of victims compared to the $171 average for other scams.

How it works: There are various job scams, but they often involve scammers creating a realistic online presence, complete with fake company websites, luring people in via LinkedIn or Indeed with the promise of remote work to get banking and personal info.  

• Other work scams involve “hiring” people and getting them to do illegal work (like reshipping scams where people unknowingly move stolen goods) before dipping. 

Scams are getting more sophisticated, too. A few years ago, most job scams were fairly low-effort and easy to spot. Today, scammers are more involved and put in work to secure bigger hauls.

• Plus, thanks to new easy access to AI tools, job scams could be easier than ever to pull off as ChatGPT can easily make highly personalized, effective recruiting letters.

Why it matters: The surge of people looking for new gigs as they contend with the rising cost of living and layoffs (or just as they try to keep their WFH lifestyle intact) has created the ideal conditions for employment scams to thrive. So stay safe out there, job seekers.