It’s rare that money jingles in our pocket or gets hidden between the mattresses for a rainy day. The way you grew up—and the tangible presence of money—isn’t the same experience for your 21st century cyber kid.
As digital natives, our kids have grown up with an entirely different view of money: Money is plastic, money is Pay Pal, and money is an invisible monthly charge that automatically comes out of mom or dad’s account.
Not only is their understanding of the value of a dollar askew, their vulnerability to treating it casually online—and being victimized by scams and identity theft—is a real risk.
The Internet Crime Complaint Center (IC3), a joint venture of the FBI and the National White Collar Crime Center, in 2007 found:
Online auction fraud was the most reported type of fraud and accounted for 44.9% of consumers’ complaints Non-delivered merchandise and/or payment made up 19.0%…